Norcros (NXR)

Sector:

Construction and Building Materials

Index:

FTSE Small Cap

185.50p
   
  • Change Today:
      2.00p
  • 52 Week High: 195.00
  • 52 Week Low: 135.50
  • Currency: UK Pounds
  • Shares Issued: 89.60m
  • Volume: 21,683
  • Market Cap: £166.20m
  • RiskGrade: 171

Key Financials

  £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 31-Mar-11 31-Mar-10 31-Mar-09
Annualisation Factor 1.0 1.0 1.0
Dividend Yield 0.3% 0.0% 0.0%
       
Continuing Operations      
PE Ratio - Adjusted 80.3 110.4 97.2
PE Ratio - Diluted 107.1
93.2		 n/a
n/a		 n/a
93.0
PEG - Adjusted 0.5 12.3 n/a
PEG - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a
Return on Capital Employed 11.90%
13.36%		 n/a
6.49%		 n/a
5.22%
Operating Margin 5.46%
6.07%		 (1.12%)
4.83%		 0.32%
4.93%
       
Continuing & Discontinued Operations      
PE Ratio - Adjusted 80.3 110.4 97.2
PE Ratio - Diluted 107.1
93.2		 n/a
n/a		 n/a
93.0
PEG - Adjusted 0.5 12.3 n/a
PEG - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a

  £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Mar-11 31-Mar-10 31-Mar-09
Net Gearing 13.35% 22.33% 91.05%

  £ (Millions) £ (Millions) £ (Millions)
Value Metrics 31-Mar-11 31-Mar-10 31-Mar-09
Price/Book Value 13.3 4.0 2.7
Price/Tangible Book Value 13.3 4.0 2.7
Price/ Cash Flow 80.0 25.2 19.6
Price/Revenue 3.75 1.13 0.48
Price/R&D 319.9 100.9 39.2
Net Asset Value per Share (exc. Intangibles) 9.62p 16.24p 19.54p
Net Cash per Share 0.40p 0.65p 1.35p

  £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 31-Mar-11 31-Mar-10 31-Mar-09
Continuing Operations      
Revenue 196.10 169.60 154.20
EBITDA 17.30
18.50		 4.70
14.80		 6.90
14.00
Depreciation (6.60)
(6.60)		 (6.60)
(6.60)		 (6.40)
(6.40)
Net Interest (3.20)
(3.20)		 (5.30)
(5.60)		 (2.80)
(2.80)
Profit Before Tax 7.50
8.70		 (10.00)
(0.20)		 (4.80)
2.30
       
Revenue per Share 33.98p 58.10p 109.98p
Pre-Tax Profit per Share 1.30p
1.51p		 (3.43p)
(0.069p)		 (3.42p)
1.64p
Market Capitalisation £ (Millions) 736.14 379.08 78.92
Enterprise Value (EV) £ (Millions) 752.64 397.08 130.02
EBITDA/EV 2.30%
2.46%		 1.18%
3.73%		 5.31%
10.77%
Operating Margin 5.46%
6.07%		 (1.12%)
4.83%		 0.32%
4.93%
Capital Employed £ (Millions) 89.10 83.20 97.70
Return on Capital Employed 11.90%
13.36%		 n/a
6.49%		 n/a
5.22%
Invested Equity Capital £ (Millions) 94.70 87.20 67.50
       
Earnings per Share - Basic 1.19p
1.37p		 (1.69p)
(0.069p)		 (2.23p)
0.57p
Earnings per Share - Diluted 1.19p
1.37p		 (1.69p)
(0.069p)		 (2.23p)
0.57p
Earnings per Share - Adjusted 1.59p 0.59p 0.55p
Earnings per Share Growth - Basic n/a
n/a		 n/a
n/a		 n/a
n/a
Earnings per Share Growth - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a
Earnings per Share Growth - Adjusted 167% 9% n/a
PE Ratio - Diluted 107.1
93.2		 n/a
n/a		 n/a
93.0
PEG - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a
Tax Rate 10.67% n/a (65.22%)
Dividend Cover 4.44
3.83		 n/a
n/a		 n/a
n/a
Interest Cover 3.21
3.56		 (0.69)
0.97		 (0.41)
1.68
       
Continuing & Discontinued Operations      
Earnings per Share - Basic 1.19p
1.37p		 (1.69p)
(0.069p)		 (2.23p)
0.57p
Earnings per Share - Diluted 1.19p
1.37p		 (1.69p)
(0.069p)		 (2.23p)
0.57p
Earnings per Share - Adjusted 1.59p 0.59p 0.55p
Earnings per Share Growth - Basic n/a
n/a		 n/a
n/a		 n/a
n/a
Earnings per Share Growth - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a
Earnings per Share Growth - Adjusted 167% 9% n/a
PE Ratio - Diluted 107.1
93.2		 n/a
n/a		 n/a
93.0
PEG - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a
Dividend Cover 4.44
3.83		 n/a
n/a		 n/a
n/a
Return on Equity (ROE) 7.07%
8.34%		 (11.47%)
(0.23%)		 (9.33%)
1.19%
Operating Cash Flow per Share 1.59p 1.30p 1.35p
Gross Cash Flow per Share cn/a cn/a cn/a
Cash Incr/Decr per Share 0.62p (1.20p) 2.78p
Capital Expenditure per Share n/a n/a n/a
Dividend per Share 0.36p n/a n/a
Dividend per Share Growth n/a n/a n/a
Dividend Yield 0.3% 0.0% 0.0%
Shareholders Funds 79.40 71.20 50.30
Net Borrowings £ (Millions) 10.60 15.90 45.80
Net Asset Value per Share (inc. Intangibles) 9.62p 16.24p 19.54p

  £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 31-Mar-11 31-Mar-10 31-Mar-09
Shareholders' Funds inc Intangibles 79.40 71.20 50.30
Net Borrowings £ (Millions) 10.60 15.90 45.80
Net Gearing 13.35% 22.33% 91.05%
Cash & Near Cash 7.70 3.90 7.30
Cash 9.70% 5.48% 14.51%
Gross Borrowings 18.30 19.80 53.10
Gross Gearing 23.05% 27.81% 105.57%
Borrowings Under 5 years 18.30 19.80 53.10
Under 5 years 23.05% 27.81% 105.57%
Borrowings Under 1 year n/a n/a n/a
Under 1 year n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions)
Gearing - exc Intangibles 31-Mar-11 31-Mar-10 31-Mar-09
Shareholders' Funds exc Intangibles 55.50 47.40 27.40
Net Borrowings £ (Millions) 10.60 15.90 45.80
Net Gearing 19.10% 33.54% 167.15%
Cash & Near Cash 7.70 3.90 7.30
Cash 13.87% 8.23% 26.64%
Gross Borrowings 18.30 19.80 53.10
Gross Gearing 32.97% 41.77% 193.80%
Borrowings Under 5 years 18.30 19.80 53.10
Under 5 years 32.97% 41.77% 193.80%
Borrowings Under 1 year n/a n/a n/a
Under 1 year n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions)
Cover 31-Mar-11 31-Mar-10 31-Mar-09
Quick Ratio 0.92 0.94 1.02
Current Ratio 1.67 1.73 1.94

Key

* GAAP

a. Includes discontinued activities

b. Based on operating cash flow before tax

c. Not disclosed under IFRS

d. Includes non-current assets

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

Note 3: Above ratios are on a 'per annum' basis, adjusted for corporate actions and based on the fundamentals of the primary listed security.

Note 4: Under IFRS, all figures are based on 'Continuing' operations unless otherwise stated.

Note 5: Normalised ratios are shown in blue text

Note 6: Forecast figures based on normalised accounts.

 

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