www.norconplc.com
Providing project management and outsourcing services for operators of telecommunications networks including fixed line and mobile telephone systems and data networks, assisting them with the installation, operation or optimisation of telecommunications systems and to countries seeking advice on regulatory matters, defence systems, equipment and command and control facilities.
Norcon confident of long-term growth and reports ‘significant client retention’ in H1
In a trading update, ahead of its interim results, Norcon (LON:NCON) said it has successfully maintained significant client retention levels in the first six months, with continuing demand from both existing and new clients. For the half ended 30 June, the company anticipates revenues to come in within 5% of expected levels, with a US$3.5m net cash uplift compared with H109, and margins are expected to be consistent with prior years.
"The underlying demand for our services remains evident and we are confident that we remain on a long-term growth path,” Norcon chief executive Arnold Rørholt commented.
Norcon highlighted that, with a number of new contracts, it has made progress with its strategy to expand into new target sectors and geographies. Furthermore, the company said that the development of additional projects in the pipeline has been promising.
However Norcon acknowledged that there had been some delays, due to operators evaluating technologies and negotiating license terms.
“Our current focus ... rests on securing a positive outcome to our plans to diversify the sources of our organic growth, as well as continuing to pursue our strategic aim of expanding into new market segments and geographies."
Norcon stated its confidence that its long-term growth drivers remain in place.
The interim results for the six months period will be published in September.
The AIM listed company provides project management services and consultancy for various types of communications networks. According to Norcon, network operators, particularly in emerging countries, regularly use external consultants to assist them install, upgrade and operate their various telephone networks.
