Added to YB: 2026-07-13
Pitch date: 2026-05-06
NXR.L [bullish]
Norcros plc
+7.21%
current return
Author Info
No bio for this author
Company Info
Norcros plc, together with its subsidiaries, designs and supplies bathroom and kitchen products in the United Kingdom, South Africa, rest of Europe, and internationally.
Market Cap
GBP 267.7M
Pitch Price
GBP 2.80
Price Target
5.85 (+95%)
Dividend
3.77%
EV/EBITDA
5.65
P/E
26.55
EV/Sales
0.93
Sector
Building Products
Category
value
Norcros plc - NXR.L
NXR.L: UK's #1 bathroom products group at 5.7x EV/EBITDA, 10% FCF yield, 17% ROIC—40% discount to peers. New CEO exited loss-making tiles, lifted UK&I margins 12%→15.5%. Fibo wall-panel deal (5.3x EBITDA) extends duopoly into EU. SA sale (£30m) funds ~11% buyback. Base £5.85, bull £7.40 vs current ~£2.80. Catalysts: SA divestiture, buyback. Risks: weak UK RMI, CFO exit.
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