Norcros (NXR)

Sector:

Construction and Building Materials

Index:

FTSE Small Cap

274.00p
   
  • Change Today:
    -2.00p
  • 52 Week High: 281.00p
  • 52 Week Low: 147.50p
  • Currency: UK Pounds
  • Shares Issued: 89.79m
  • Volume: 48,395
  • Market Cap: £246.01m
  • RiskGrade: 171

Norcros warns coronavirus will cause profit to miss forecasts

By Sean Farrell

Date: Thursday 20 Feb 2020

LONDON (ShareCast) - (Sharecast News) - Norcros warned annual profit would miss expectations because of disruption to deliveries from China caused by the coronavirus epidemic.
In a trading update the company said it had suffered little impact from the coronavirus outbreak so far because it had enough stock but that its suppliers in China were not returning to production as quickly as expected. It said the shortage of products would dent sales in the important spring trading period.

"We do now envisage that the supply chain disruption is likely to have some impact on the seasonally important remainder of this financial year and early next," Norcros said. "In the short term it is now expected that underlying profitability for the year to 31 March 2020 will be below market expectations albeit ahead of last year."

Norcros shares fell 13% to 253.3p at 09:38 GMT.

The maker of Triton showers and Abode taps and sinks is the latest UK business to warn about the effects of coronavirus after the Chinese authorities closed factories that supply parts and products.

Tekmar said on Tuesday its expected profit growth would be wiped out as it was forced to buy more expensive parts from Europe after shipments from China stopped. The UK accounting regulator has told companies to be rigorous in reporting risks caused by coronavirus.

Norcros also reported disappointing trading in South Africa where construction output fell sharply at the start of the company's fourth quarter. The business is cutting costs and Norcros expects underlying annual profit in South Africa to be slightly higher than a year earlier.

The company said it had continued to gain market share in the UK and South Africa despite difficult conditions. UK revenue growth has continued at a similar rate to the first half but with subdued export performance. Norcros said it was monitoring the effect of coronavirus and that it was confident about its long-term future.

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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.

 

Norcros Market Data

Currency UK Pounds
Share Price 274.00p
Change Today -2.00p
% Change -0.72 %
52 Week High 281.00p
52 Week Low 147.50p
Volume 48,395
Shares Issued 89.79m
Market Cap £246.01m
RiskGrade 171

Norcros Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
73.61% above the market average73.61% above the market average73.61% above the market average73.61% above the market average73.61% above the market average
94.74% above the sector average94.74% above the sector average94.74% above the sector average94.74% above the sector average94.74% above the sector average
Price Trend
93.29% above the market average93.29% above the market average93.29% above the market average93.29% above the market average93.29% above the market average
79.49% above the sector average79.49% above the sector average79.49% above the sector average79.49% above the sector average79.49% above the sector average
Income
53.41% above the market average53.41% above the market average53.41% above the market average53.41% above the market average53.41% above the market average
65.52% above the sector average65.52% above the sector average65.52% above the sector average65.52% above the sector average65.52% above the sector average
Growth
54.31% below the market average54.31% below the market average54.31% below the market average54.31% below the market average54.31% below the market average
61.11% below the sector average61.11% below the sector average61.11% below the sector average61.11% below the sector average61.11% below the sector average

What The Brokers Say

Strong Buy 4
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 5
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Norcros Dividends

  Latest Previous
  Final Interim
Ex-Div 27-Jun-24 30-Nov-23
Paid 02-Aug-24 16-Jan-24
Amount 6.80p 3.40p

Trades for 31-Oct-2024

Time Volume / Share Price
16:39 4,043 @ 269.61p
16:39 4,043 @ 269.61p
16:35 2,371 @ 274.00p
16:35 1 @ 274.00p
16:35 126 @ 274.00p

Norcros Key Personnel

CFO James Eyre
CEO Thomas Willcocks

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