Updates

Norcros

July 2016

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.

No real surprises in the results as there had been a trading update in May following the acquisition of Abode, a supplier of taps. Overall, good progress is being made although there is clearly some catchup required if the company is to hit the strategic plan of ballooning sales to £420m by 2018, although it includes only a part period from the earlier acquisitions of Croydex and Abode.This is the first year of its three year plan and sales were up 6% to £235.9m with adjusted pretax profit up 29% to £20.4m, reflecting a significantly improved performance in Johnson Tiles UK, continued progress in the South African businesses, and a first time contribution from Croydex. Eps was up from 21.1p to 24.6p. Net deb ...

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Norcros - Another acquisition (May 2016)

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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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