Norish Units (NSH)

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 70.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 85.00
  • 52 Week Low: 57.50
  • Currency: UK Pounds
  • Shares Issued: 30.07m
  • Volume: 0
  • Market Cap: 21.05m
  • RiskGrade: 95

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 70.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 85.00
52 Week Low 57.50
Volume 0
Shares Issued 30.07m
Market Cap 21.05m
RiskGrade 95

Norish Units Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
28.39% above the market average28.39% above the market average28.39% above the market average28.39% above the market average28.39% above the market average
55.96% above the sector average55.96% above the sector average55.96% above the sector average55.96% above the sector average55.96% above the sector average
Price Trend
24.93% above the market average24.93% above the market average24.93% above the market average24.93% above the market average24.93% above the market average
26.32% above the sector average26.32% above the sector average26.32% above the sector average26.32% above the sector average26.32% above the sector average
Income
6.09% below the market average6.09% below the market average6.09% below the market average6.09% below the market average6.09% below the market average
17.50% above the sector average17.50% above the sector average17.50% above the sector average17.50% above the sector average17.50% above the sector average
Growth
49.65% above the market average49.65% above the market average49.65% above the market average49.65% above the market average49.65% above the market average
44.44% above the sector average44.44% above the sector average44.44% above the sector average44.44% above the sector average44.44% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
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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 --2020

Time Volume / Share Price
0 @ 0.000p

Norish Units Key Personnel

Finance Director Aidan Hughes

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