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Interim Results 2012

Thursday, 20 September 2012 05:26

Norcon plc announces unaudited interim results for the six months ended 30 June 2012 (the “Interim Period”). As highlighted in the Company’s announcement of 17 September, results for the period reflect slower than anticipated growth in certain new projects during the first half, combined with planned expansion investments designed to spur growth from 2013 onwards.

FINANCIAL HEADLINES:

•  Revenue of US$25.3m (H1 2011: US$35.9m)
•  Gross profit of US$2.9m (H1 2011: US$6.0m)
•  Loss after tax of (US$0.5m) (H1 2011: US$2.4m profit)
•  Negative net cash balance of US$1.5m (30 June 2011: US$1.1m net cash)
          ° Significant proportion of outstanding balances collected post period end
          ° Net cash improved by US$7.5m since period end
•  Pro forma loss per share of (US$0.01) (H1 2011: US$0.05 profit)