23rd Jun 2009 07:00
23 June 2009
NORCON PLC
("NORCON" or "THE COMPANY")
PRE-CLOSE TRADING UPDATE
Norcon plc ("Norcon" or "the Company"; LSE/AIM: NCON), an international leader in project management and outsourcing in the telecommunications, defence and IT sectors, is pleased to give an update on trading in the half year to 30 June 2009, ahead of the Company's Annual General Meeting being held at 12 noon today.
Trading in the first half has proceeded according to expectations, with a highlight of the period being the successful entry into South Africa, where a contract has been secured with Cell-C, South Africa's third largest mobile telecoms network.
Norcon also announces today the signing of a strategic partnership with Metro Telworks, a leading Indian wireless telecom networks specialist. The agreement will see Metro Telworks and Norcon partnering on the bids for several significant telecoms infrastructure projects underway or scheduled for implementation in the Middle East and Asia.
The size of the opportunity in these new markets, combined with the resilience of the Company's core geographies of the Middle East and Asia mean the management is confident of a successful year.
Norcon will be reporting Interim Results in early September.
Arnold Rørholt, Chief Executive Officer of Norcon, commented, "Norcon's business has developed in line with our forecasts at the time of our IPO in July 2008 and subsequent updates. We are on track to achieve significant growth this year through the combination of increased work with current clients and the acquisition of new clients in both our core and new geographies. The implementation of infrastructure projects continues apace and we have a solid pipeline of opportunities for further expansion. We therefore continue to have confidence in a successful outcome for 2009 and beyond."
CONTACTS:
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Norcon plc |
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Arnold Rørholt, Chief Executive Officer |
+47 90 11 66 90 |
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Marne Martin, Chief Financial Officer |
+44 (0) 78 13 92 09 74 |
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FinnCap |
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Clive Carver or Rose Herbert |
+44 (0) 20 7600 1658 |
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ICIS |
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Tom Moriarty or Caroline Evans-Jones |
+44 (0) 20 7651 8688 |
ABOUT NORCON:
Norcon is an international project management and outsourcing services business, operating in the telecommunications, IT and defence sectors. Registered in Isle of Man, headquartered in Cyprus, the Company has provided project management services since 1957 in more than 20 countries around the world. www.norconplc.com
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