22nd Jan 2010 07:00
22 January 2010
NORCON PLC
PRE-CLOSE TRADING UPDATE
FOR THE YEAR ENDING 31 DECEMBER 2009
Norcon plc ("Norcon") is pleased to announce that revenue for the year ended 31 December 2009 has developed very positively with growth estimated to be at least 12% compared to the full year 2008. Our continuing profitability, stable gross and EBITDA margins, and an increasing trend in net income margins underpins Norcon's long term growth performance. In addition, improved operational cash flow was generated in the year with a positive net cash result at year-end.
Revenue and EBITDA for the year ended 31 December 2009 are therefore expected to meet analyst expectations.
Norcon has delivered against its stated organic growth objectives of extending existing contracts and expanding into target sectors and countries.
Full year results for the year ended 31 December 2009 will be announced in late March 2010.
Commenting for Norcon, Chief Executive, Arnold Rørholt said:
"We are delighted with our 2009 performance and are very positive about our prospects for 2010. The current economic circumstances have underlined to our clients the value of having an effective, efficient and proactive project management and outsourcing partner. We look forward to continued demand from our new and existing clients, as well as the eventual roll-out of Long Term Evolution systems around the world."
For further information, please contact:
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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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Financial Dynamics |
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James Melville-Ross, Matt Dixon, or Erwan Gouraud |
+44 (0) 20 7831 3113 |
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Finncap |
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Clive Carver, Charlotte Stranner, or Rose Herbert |
+44 (0) 20 7600 1660 |
ABOUT NORCON:
Established in 1957, Norcon (LSE/AIM: NCON) has been a trusted consultant and project manager for more than half a century to governments and some of the world's largest global firms. These organisations rely on Norcon to select, implement and maintain a communication infrastructure that not only matches, but also supports the critical needs of their operations. Norcon's strength lies in its understanding of complex communication networks and their design. www.norconplc.com
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