Updates

Norcross

December 2015

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

These are the first interims since we featured the shares in July. And no, your Christmases didn’t all come in at once – the shares have earlier this month been consolidated on a 10-for-1 basis.But unlike many companies that consolidate their shares, Norcross is not some cigar butt of an investment; it has done it from a position of strength. Latest interims show strong momentum across its showers, taps, bathroom accessories, tiles and adhesives businesses in the UK and South Africa. Adjusted pretax profit was up 33% to £8.8m on sales up 9% to £118.7m (+12% on constant currency), which included a three month contribution from Croydex, acquired in June. Eps was 46% higher at 11.8p. Operating margin improved t ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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