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 seeing continued high demand, sees full-year results in line
Norcon (LON:NCON) said that, despite the current challenging economic times, it continues to see high demand for its services from both existing and new clients. It expects results for the year to the end of the month to be broadly in line with market expectations.
The group, which provides services to telecoms network operators, said it has successfully maintained a significant level of client retention.
During the year, and particularly in the second half, the company has continued to pursue its stated aim of expanding into new target sectors and geographies as stated in the interims. These opportunities, including further developments in the (wireless communication standard) LTE/4G space are likely to have a positive impact in the year to come.
Both this continued expansion into new territories and the fact that some key clients will move toward awarding fixed price contracts with milestone payments will require an additional investment in working capital in order to ensure successful implementation.
As a consequence, Norcon has decided not to pay an interim dividend.
Board members remain significant shareholders in the company and committed to pursuing a dividend policy that is both sustainable and commensurate with allowing Norcon to grow and diversify for the long term, I said.
The final dividend for the year 2011 will be declared upon the publication of the full-year results, expected in April 2012.
Norcon offers technical and commercial services for the planning, deployment, expansion and operation of telecommunication and data network infrastructure and IT or defence systems. The firm also offers services such as market analysis, business plans, design and engineering, planning, project management, and deployment of infrastructure and systems.
