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Commenting on the results Norcon Chairman, Trond Tostrup, said: "I am pleased that Norcon has managed to deliver another good year, in spite of global economic pressures. Thanks to our long term relations with key customers and great work by our team we remain resilient. We have made investments into our future as the Company continues to increase its geographical reach, as well as the services we offer to our clients. I firmly believe that our core strengths support our long term growth prospects."
Norcon plc (LSE/AIM: NCON), the global communications network specialist, is pleased to announce audited and final results for the financial year ended 31 December 2011. The results conclude a broadly flat year for Norcon as it worked to navigate the widespread global economic challenges; whilst at the same time continue to take an early advantage of steadily increasing LTE capital investments taking place in the telecommunications arena. FINANCIAL HIGHLIGHTS Trading has been broadly consistent with the management team's revised FY expectations, as set out in the Trading Update of 15 February 2012: · Revenue of US$66.6m (FY 2010: US$68.6m) · Operating profits of US$6.2m (FY 2010: US$7.3m) · Profit before tax of US$5.4m (FY 2010: US$6.7m) · Profit after tax of US$3.5m (FY 2010: US$4.3m) · Cash at year end increased to US$12.5m (FY 2010: US$12.1m) · Pro forma earnings per share on a basic basis of US$0.07 (FY 2010: US$0.09) with the number of shares of 48,800,808 during the year compared to the weighted average number of shares of 47,174,875 the prior year · Dividend declared related to the final 2011 results of US$1m, a yield of 5% at the current share price OPERATIONAL HIGHLIGHTS · Client engagements in core markets renewed, in addition to new mandates secured in key expansion territories · Organisation strengthened with the creation of the role and recruitment of a new Chief Operating Officer with further key personnel targeted to join in 2012 to support our geographical as well as services expansion · Strategy remains unchanged with increased focus on going into new verticals and new geographies · Favourable long-term market drivers are in place
http://www.investegate.co.uk/Article.aspx?id=201204130700112590B
http://www.investegate.co.uk/Article.aspx?id=201202150700344328X
Global communications network specialist Norcon (NCON) reported that since its previous trading update, "certain events" have impacted performance to the extent that pre-tax profits for the year ended 31st December will be lower than market expectations. The company also reaffirmed that it would not be declaring its final dividend until the publication of its full year results in April. Panicked investors jumped ship, the shares losing almost a quarter of their value as they fell 8.5p to 28p.
just received my divi....surely this stock should be much higher? not many aim stocks pay dividends
Commenting on the results, Norcon's Chairman, Trond Tostrup, said: "Our ongoing contracts and high levels of client retention have given us a solid base on which to successfully expand our activities into new clients and territories in this first half of 2011. Whilst many of our new contract wins are currently small in volume terms, they represent important new beachheads for us into key expansion markets and have the potential to grow into larger long term relationships over time. We have good visibility through the fourth quarter of 2011 and we look forward to another profitable outcome for the year as a whole whilst remaining focused for the long term on developing and diversifying our business."
For the six month period ended 30 June 2011 Norcon plc (LSE/AIM: NCON), the global communications network specialist announces unaudited interim results for the six months ended 30 June 2011 (the "Interim Period"). These results reflect an improved revenue performance from the Company's business. FINANCIAL HIGHLIGHTS: · Revenue of US$35.9m (H1 2010: US$34.2m) · Gross profit of US$6.0m (H1 2010: US$6.6m) · Profit after tax of US$2.4m (H1 2010: US$2.8m) · Net cash of US$1.1m (30 June 2010: US$5.0m net cash) o Significant proportion of outstanding balances collected post period end o Net cash improved by more than US$7.0m since period end · Pro forma earnings per share of US$0.05 (H1 2010: US$0.06)* · Strengthened balance sheet with the current ratio increasing to 4.1 (30 June 2010: 2.6) * see note r OPERATIONAL HIGHLIGHTS: · Secured new client engagements in target expansion geographies · Strong client retention and competitive position in core markets maintained · Long-term market drivers remain firmly in place · New hires bringing expanded client relationships and contacts
http://www.investegate.co.uk/Article.aspx?id=201109210700136211O
Norcon plc (LSE/AIM: NCON), the global communications network specialist is pleased to announce progress being made by the Company in its strategic plan to diversify its geographic revenue base. Norcon confirms that it has secured a new client win in Thailand. The contract will see Norcon support one of Thailand's mobile operators in its implementation of an upgrade programme to its national network infrastructure. Arnold Rørholt, Chief Executive Officer of Norcon, commented, "We have made the diversification of our revenue base into new geographies a key strategic priority for our business. I am delighted to show that we are making progress in this regard, particularly here in the dynamic markets of South East Asia where the long term opportunity for developing our business remains significant."
http://www.investegate.co.uk/Article.aspx?id=201103110700107540C
In line with its strategic plan to diversify its geographic revenue base, Norcon (NCON) has secured a new contract to support one of Thailand's mobile operators in its implementation of an upgrade programme to its national network infrastructure. "We have made the diversification of our revenue base into new geographies a key strategic priority for our business" commented chief executive Arnold Rørholt. "I am delighted to show that we are making progress in this regard." Norcon shares were untouched at 51.5p.
The directors of Lo-Q (AIM: LOQ), e-Therapeutics plc (AIM: ETX), Asterand (LSE: ATD) and Norcon Plc (AIM: NCON) will be presenting: Thursday the 3rd March 2011, Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB The presentations will start at 6:00pm and finish at approx 8.00pm. After the presentations are complete the directors will also be available to take questions during a free canapé and wine reception. Details on the presenting companies can be found below. This event is suitable for the following: Sophisticated & private investors, private client brokers, fund managers, financial institutions, hedge funds, buy & sell side analysts and journalists. FREE registration - http://www.proactiveinvestors.co.uk/register/event_details/102 If you have any problems registering or queries please email events@proactiveinvestors.com.au.
This is a share that interests me, undervalued but looks strong. But lacks a bit of PI interest? Not to sure if ill be buying yet but anyone know any details/dates of the “We have a number of larger diversified organic projects which I hope we will convert sooner rather than later as our first priority,”?
interesting read http://www.proactiveinvestors.co.uk/companies/news/21718/norcon-a-growth-and-income-story-21718.html
killer spread.