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Update

Thursday, 07 February 2013 18:00
Norcon provides the following update for its financial year ended 31 December 2012
 

Market expectations were reduced following the trading update of 17 September 2012 and the interim report for the six months to 30 June 2012 released on  20 September 2012.  The Company now confirms that turnover for the financial year is expected to be in line with current market expectations  whilst the loss before tax is expected to be marginally higher than current market expectations.  Net cash at 31 December 2012  stood at US$ 4.2m (31 December 2011: US$ 7.1m).

The Board does not currently expect to pay a dividend for the financial year ended 31 December 2012 as the directors intend to prioritise investment in new business lines.

The Board continues to believe in the Company's opportunity to secure profitable and sustainable growth by developing new markets and reducing the historical dependance on one major centre.  

The Company expects to announce its  final results for the year ended 31 December 2012 on 23 April 2013

Contacts:
 
Norcon plc
Trond Tostrup                                                                    +47 901 69369
 
finnCap
Charlotte Stranner / Stuart Andrews (Corporate Finance)      +44 (0) 20 7220 0500
Stephen Norcross (Corporate Broking)