The H116 pre-close IMS echoed previous newsflow and group guidance for the full year is unchanged. Consistent messaging and expected progress are at odds with weak share price performance. While we appreciate some investor caution on UK earnings, a valuation approaching P/E and yield parity for next year overextends these general concerns in our view.
14 Oct 2016
Full year on track
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Full year on track
Norcros plc (NXR:LON) | 173 -1.7 (-0.6%) | Mkt Cap: 154.8m
- Published:
14 Oct 2016 -
Author:
Toby Thorrington -
Pages:
3
The H116 pre-close IMS echoed previous newsflow and group guidance for the full year is unchanged. Consistent messaging and expected progress are at odds with weak share price performance. While we appreciate some investor caution on UK earnings, a valuation approaching P/E and yield parity for next year overextends these general concerns in our view.