Norcros plc with ticker (LON:NXR) now has a potential upside of 81.6% according to Berenberg Bank.
Berenberg Bank set a target price of 325 GBX for the company, which when compared to the Norcros plc share price of 179 GBX at opening today (14/03/2024) indicates a potential upside of 81.6%. Trading has ranged between 134 (52 week low) and 204 (52 week high) with an average of 45,836 shares exchanging hands daily. The market capitalisation at the time of writing is £169,621,037.
Norcros plc is a United Kingdom-based supplier of bathroom and kitchen products. The principal activities of the Company and its subsidiaries are the design, manufacture, and distribution of a range of bathroom and kitchen products, mainly in the United Kingdom and South Africa. In the United Kingdom, it offers a range of bathroom and kitchen products for domestic and commercial applications. In the United Kingdom, it operates under eight brands: Triton, Merlyn, Vado, Croydex, Abode, Johnson Tiles, Norcros Adhesives and Grant Westfield. Its complementary business in South Africa operates principally from a shared manufacturing and administrative site near Johannesburg. In South Africa, it operates under four brands: Tile Africa, Johnson Tiles South Africa, TAL and House of Plumbing. The Company offers mixer showers and accessories; tile and stone adhesives; taps, bathroom accessories and valves; bathroom furnishings; ceramic wall and floor tiles; and tile adhesives, among others.
Norcros plc 81.6% potential upside indicated by Berenberg Bank
- Written by: Charlotte Edwards
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Norcros plc expects first-half revenue to rise 19% to approximately £220 million, with underlying operating profit increasing to at least £24.6 million. European and South African performance offset softer UK demand, while strong cash generation reduced net debt and supported a positive full-year outlook, with underlying operating profit expected to meet market expectations.
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