Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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norcros plc is a group comprised of market leading businesses supplying innovative branded showers, shower enclosures and trays, taps, bathroom accessories, tiles and adhesives.
the company is pleased to invite you to an online webinar at 11.00am on tuesday 7th may, hosted by thomas will****s (ceo) and james eyre (cfo) who will present and then take audience questions. all investors are welcomed.
the presentation will cover the recent update on trading in fy24, and highlight the key messages from the 1st may capital markets event regarding the group’s business portfolio, organic growth, operational improvements, and leverage of its esg strengths.
link to register for the investor presentation here: https://www.equitydevelopment.co.uk/news-and-events/norcros-7th-may-investor-presentation
Norcros has again demonstrated great business resilience in the face of challenges in both of its primary markets, and reduced net debt. We retain our 233p/share fair value in new research note. Free access to it here:
https://www.equitydevelopment.co.uk/research/fy24-matching-up-to-our-expectations
Interesting that Perpetual Limited just purchased 9.9% of the shares - I still think undervalued here and guess this means they do too! GL all holders.
thomas will****s (ceo) and james eyre (cfo) of norcros plc hosted an investor presentation covering interim results to the 30th september 2023.
management highlighted the robust performance over the period, particularly in the uk, and the positioning of their market leading brands. the team discussed their strong balance sheet and excellent cash conversion, progress on their strategic priorities and esg as a key source of competitive advantage. management then took part in a wide-ranging q&a session with the live audience.
the full video is available below, divided into chapters for ease of viewing:
0:00:03 highlights & overview
0:04:16 financial review
0:07:40 group strategy
0:17:44 summary & outlook
0:20:28 questions & answers
link to video: https://www.equitydevelopment.co.uk/research/norcros-plc-investor-presentation-interim-results-november-2023
Norcros has leading positions in its market segments built upon strong brands, new product development, channel diversity and supply chain strengths. It is seeking to drive further market share gains organically by intensifying group synergy benefits and through M&A activity.
H1 results saw an 8.3% reported group revenue decline (or -4.1% on a constant currency, LFL basis) was substantially driven by lower demand in South Africa while the UK was broadly flat y-o-y. EBIT came in 2.7% lower (unchanged in constant currency) reflecting a better UK outturn – being the net effect of exiting Norcros Adhesives and two additional month’s contribution from Grant Westfield (GW) – more than offsetting adverse operational gearing in South Africa.
Norcros is profitable, strongly cash generative and moderately geared at 1x EV/EVITDA. We initiate coverage with our DCF analysis suggesting a fair value midpoint of 233p / share, giving c. 50% upside potential on a rerating.
Link to initiation here: https://www.equitydevelopment.co.uk/research/overlooked-and-undervalued
Excellent.
These Shares worth £4
norcros plc is a group comprised of market leading businesses supplying innovative branded showers, shower enclosures and trays, taps, bathroom accessories, tiles and adhesives.
the company will be giving an online presentation of its interim results and ambitions, hosted by thomas will****s (ceo) and james eyre (cfo).
this event will start at 2.45pm on tuesday 21st november.
the webinar is open to all existing and potential shareholders. questions can be submitted during the presentation to be addressed at the end.
link to register: https://www.equitydevelopment.co.uk/news-and-events/norcros-investor-presentation-21november2023
As I feared: Rand and S African political issues weighing heavy on the top line. But operating profit in line with last year despite 8% fall in sales - which is interesting. A full 50% reduction in UK tile manufacturing costing £1.4m sounds like a big response - is this just temporary or a long term thing?
The thing that freaks me out about this company (but I accept is also an opportunity) is that 33% of their revenues are from South Africa. The rand has been deteriorating over the last 5 years (now approaching 25 to the £1) and could worsen further both from a forex and political perspective. Triton might have a lot of market share in their chosen market, but they are not the brand for me. Overall, the messaging from the company appears to be a little over confident for my liking and their declining share price bears this out.
On Fundamentals, popularity & strength of products this must be one of best value shares about. PE ratio 4 and dividend 7% ! Buy the whole Company and you are on 25% return on Capital- unbelievable. Invest in the Company and you get 7% return on investment and surely this Company shares are worth £4 !
Very little comment on here indicates not a well known share. Definitely a takeover target - if it can be discovered.
Is the Chinese manufacturing a worry? if so that should be short term.
Looks like the bottom, all the bad news factored in.
Some decent products Triton Ex, Takeover target at these levels?
Anyone invested here?
rruly dreadful acquisition: timing, pricing
makes you nervous about their buy to grow plan
perhaps 1.35 for oversold bounce
University undergraduates pitch their best UK small-cap stock pick to leading Fund Managers Andy Brough, Schroders, Judith MacKenzie, Downing, and Stephen English, Stellar Asset Management.
Rachel Lyu, Cutty Sark Investment Society, Clare College, Cambridge University pitches Norcros (NXR)
Watch the video here: https://www.piworld.co.uk/education-videos/sell-it-to-the-city-october-2022/
All quiet here but sometimes quiet ones are the best. Glad I doubled down last year and doing well today. Continued house buying and people having cash for upgrades bodes well provided supply chain not an issue. will continue to hold
Dose anyone know why todays drop??
Increased revenue and gp, debt reduced and a final dividend payment.
This should continue to rise from here
today's rise is due to a Sunday Mail suggested punt - smoke and mirrors.
but canacord cont to reduce holding...why?
I guess the recent buying activity over the last week, can be explained by this most exellent RNS.
and I did :)
topped up my long term hold to average down to £1.50. Think prospects are good with number of new houses being built and people spending money on homes rather than holidays. Fingers crossed.
I’m relatively pleased with that trading update. Many companies will be in far worse a position. Broke even, staff furloughed and more recently yoy sales growth- I’ll take that
but no, major ii selling down instead
fancy sub 140p now
yep...about to get some proper mojo?