Norcros (NXR) - nice results and still looking cheap, time to get interested?
The supplier of innovative branded showers, taps, bathroom accessories, tiles and adhesives announced decent results for the six months ended 30 September 2015. This business comes with the legacy of hefty pension issue but with a growing market share and decent cash flow the shares are starting to look interesting. An AIM listing would probably encourage some attention from the IHT planning fraternity. The high level of Director remuneration could also be an issue to some.
Norcros is a leading supplier of high quality and innovative showers, taps, bathroom accessories, ceramic wall and floor tiles and adhesive products with operations primarily in the UK and South Africa. In the UK, the Group operates under five brands: - Triton Showers - Market leader in the manufacture and marketing of showers in the UK - Vado - A leading manufacturer and supplier of taps, mixer showers, bathroom accessories and valves - Croydex - A market-leading, innovative designer, manufacturer and distributor of high quality bathroom furnishings and accessories - Johnson Tiles - A leading manufacturer and supplier of ceramic…