British stockbroker Teather & Greenwood has issued a buy recommendation for the Irish bathroom ware company Qualceram. The broker says the shares are a good bet at 132.5p (€168.4). Qualceram is the sole producer of sanitary ware in Ireland and the broker is forecasting strong growth in its business.
The group has a 25 per cent share of the Irish market and exports 40 per cent of its sales to Britain. Teather & Greenwood says the group's financial position is robust with net cash of £800,000, and internal cash generation is strong. "We believe that Qualceram has enough growth points to increase sales by 20 per cent a year for some years and can readily fund organic expansion."
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