FY16 was a year of strategic and financial progress for Norcros, with improved profit contributions from both reporting regions and two acquisitions completed. Q117 trading is in line with previous FY17 group guidance and we expect further profit progress over our three-year forecast horizon. UK RMI exposure appears to be out of favour with investors currently, but acquisitions and other regional earnings are positive differentiators not reflected in the rating in our view.
09 Aug 2016
Progressing as planned
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Progressing as planned
Norcros plc (NXR:LON) | 173 -1.7 (-0.6%) | Mkt Cap: 154.8m
- Published:
09 Aug 2016 -
Author:
Toby Thorrington -
Pages:
7
FY16 was a year of strategic and financial progress for Norcros, with improved profit contributions from both reporting regions and two acquisitions completed. Q117 trading is in line with previous FY17 group guidance and we expect further profit progress over our three-year forecast horizon. UK RMI exposure appears to be out of favour with investors currently, but acquisitions and other regional earnings are positive differentiators not reflected in the rating in our view.