Norish Units (NSH)

Sector:

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 70.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 74.00
  • 52 Week Low: 57.50
  • Currency: UK Pounds
  • Shares Issued: 30.07m
  • Volume: 0
  • Market Cap: 21.20m
  • RiskGrade: 104

Cost cutting offsets revenue drop for Norish

By Duncan Ferris

Date: Friday 08 Mar 2019

LONDON (ShareCast) - (Sharecast News) - Norish on Friday reported an increase in annual profit as cost cutting measures more than offset the impact of lower revenue.
For the year ended 31 December, the cold storage company recorded a profit before tax of £1.9m, an 18% improvement over the year before, after cost of sales was reduced by 14% to £33.9m.

The AIM traded company said labour costs were down 5% while power costs were down by 10% due to the reduced blast freezing activities.

Revenue fell by 12% to £36.8m after a reduction in blast freezing volumes, with revenues in the sourcing division falling by 18% to £22.5m as Townview Foods mainly accounted for decreased sales.

At 31 December, Norish had cash and cash equivalents of £1.5m, roughly unchanged from the same point the year beforehand, while its final and total dividend had increased by 9% to 1.80 €cent.

Looking to the future, the business said it anticipated "strong profit growth" in 2019 despite volatility in underlying markets after its cold storage division got off to a good start.

Ted O'Neill, chairman of Norish, said: "It is difficult to pin point any direct impacts from the ongoing Brexit discussions other than to say they are hardly positive for business generally. However, our balance sheet is in excellent shape and leaves us well positioned to benefit from any disruption and consequent opportunity which may arise."

Norish's shares were up 1.54% at 66.00p at 1054 GMT.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Norish Units Market Data

Currency UK Pounds
Share Price 70.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 74.00
52 Week Low 57.50
Volume 0
Shares Issued 30.07m
Market Cap 21.20m
RiskGrade 104

Norish Units Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
1.55% above the market average1.55% above the market average1.55% above the market average1.55% above the market average1.55% above the market average
37.19% above the sector average37.19% above the sector average37.19% above the sector average37.19% above the sector average37.19% above the sector average
Price Trend
82.99% above the market average82.99% above the market average82.99% above the market average82.99% above the market average82.99% above the market average
76.19% above the sector average76.19% above the sector average76.19% above the sector average76.19% above the sector average76.19% above the sector average
Income
9.94% below the market average9.94% below the market average9.94% below the market average9.94% below the market average9.94% below the market average
18.6% below the sector average18.6% below the sector average18.6% below the sector average18.6% below the sector average18.6% below the sector average
Growth
73.64% above the market average73.64% above the market average73.64% above the market average73.64% above the market average73.64% above the market average
72.65% above the sector average72.65% above the sector average72.65% above the sector average72.65% above the sector average72.65% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Norish Units Dividends

  Latest Previous
  Final Final
Ex-Div 26-Sep-19 27-Sep-18
Paid 18-Oct-19 19-Oct-18
Amount 1.80¢ 1.65¢

Trades for --2019

Time Volume / Share Price
0 @ 0.000p

Norish Units Key Personnel

Finance Director Aidan Hughes

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