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RCR offers $62m for Norfolk Group

RCR Tomlinson has made a $62 million offer to purchase engineering contractor Norfolk Group.

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RCR need to look closely at what they are buying........it was only 12 months ago the share price of Norfolk was $1.00 with an order book totalling more than $1.0b. Even at 38cents per share I doubt there is value in what is being acquired. Carry out your due diligence throughly RCR, be sure you are fully aware of what you are taking on. I should note the Maintenance business that Norfolk have may the prize, easily sold off to another suitor.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/01/18

1 year TSR5 year TSR
170thMonadelphous76%-1%
242ndRCR Tomlinson40%16%
355thAustal17%23%
389thNavitas10%3%
613thSeven West Media-26%-17%
709 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

13/11/17
$10.1m Sold
21/09/17
$15k Bought
21/09/17
$15k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

4th-Seven West Media$1,679.0m
5th↑Austal$1,325.3m
6th↑RCR Tomlinson$1,294.6m
7th↓Monadelphous$1,252.1m
8th-Navitas$967.8m
234 listed industrial companies ranked by revenue.
Source: Morningstar

Remuneration from RCR Tomlinson

277thGraham Salter$443k
631stRoderick JM Brown$218k
592ndEva Skira$133k
Ranked by total remuneration from all listed WA companies

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