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The latest announcement is out from Norcros ( (GB:NXR) ).
Norcros has announced the closure of its Johnson Tiles South Africa manufacturing operations following a strategic review. The decision, driven by the need to focus on a capital-light and cash-generative business portfolio, will see the business cease manufacturing by the end of June 2025. Despite the closure, inventory will continue to be sold through Tile Africa, and the financial impact is expected to be cash neutral. The company emphasizes its commitment to fulfilling obligations to staff, customers, and suppliers, and will report the financial performance of Johnson Tiles SA as a discontinued operation. This move aligns with Norcros’s strategic priorities of portfolio development, organic growth, and operational excellence, as it aims to strengthen its remaining profitable businesses in South Africa.
The most recent analyst rating on (GB:NXR) stock is a Buy with a £375.00 price target. To see the full list of analyst forecasts on Norcros stock, see the GB:NXR Stock Forecast page.
Spark’s Take on GB:NXR Stock
According to Spark, TipRanks’ AI Analyst, GB:NXR is a Outperform.
Norcros exhibits a strong financial performance with significant strengths in cash flow and profitability improvements. Technical analysis shows potential upward momentum, although caution is advised due to overbought indicators. Valuation metrics are reasonable, with a good dividend yield. Positive corporate events further enhance confidence in the stock’s outlook.
To see Spark’s full report on GB:NXR stock, click here.
More about Norcros
Norcros is a leading group specializing in design-led, sustainable bathroom and kitchen products across the UK, Ireland, South Africa, and select export markets. The company is known for its mid-premium product ranges that emphasize innovation, design, and sustainability, supported by industry-leading service. Norcros operates renowned brands such as Triton, MERLYN, Grant Westfield, VADO, Croydex, and Abode in the UK, and Tile Africa, TAL, Johnson Tiles South Africa, and House of Plumbing in South Africa. Headquartered in Wilmslow, Cheshire, Norcros employs around 2,000 people and is listed on the London Stock Exchange.
Average Trading Volume: 216,300
Technical Sentiment Signal: Buy
Current Market Cap: £243.4M
Learn more about NXR stock on TipRanks’ Stock Analysis page.