Updates

Norcros

January 2026

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Norcros’ shares have been flirting with the highs again after the H1 results. Revenue rose to £184.3m, up 1.3% year-on-year, with like-for-like growth of 0.8%. Operating profit increased 7% to £21.9m, translating into an operating margin of 11.9% (up 70 basis points from the prior year) whilst ROCE also climbed to 18.1% (up 150 basis points). EPS grew 11% to 16.2p. CEO Thomas Willcocks highlights the resilience of the design-led, mid-premium model, and operating margins and ROCE are both trending up towards his 15% and 20% targets. The UK & Ireland business drove much of the momentum, delivering 0.8% like-for-like growth to £131.3m and operating margin of 14.8%, supported by market share gains. Post the period end it bought F ...

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On the Beach

Gear4music

Norcros - Doubling down on waterproof coverings with FIBO - EPS enhancing (August 2025)

Norcros - Imminent disposal of lossmaking SA tile business is transformational (July 2025)

Norcros (November 2024)

Norcros - A beneficiary as gas boilers are set to be phased out of new builds (September 2024)

Norcros (July 2016)

Norcros - Another acquisition (May 2016)

Norcross (December 2015)

Norcros - Plans to grow sales to £420m within three years (July 2015)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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