NCON.L Regulatory News (NCON)

16 Apr 2009 07:00



16 April 2009

NORCON PLC

BUSINESS UPDATE

Norcon plc ("Norcon" or "the Company"; LSE/AIM: NCON), an international leader in project management and outsourcing in the telecommunications, defence and IT sectors, is pleased to announce that it has signed further contracts with Saudi Telecom Company, one of the Company's leading customers. These contracts provide significant visibility for Norcon for the remainder of 2009 and beyond. 

Additionally, Norcon continues to enjoy 100% client retention in the five countries in which it currently operates, as well as an attractive pipeline of new projects. As such, the Board looks forward to the remainder of the year with confidence.

The US$3.22 million dividend declared in the preliminary announcement of the results for the year ended 31 December 2008, will be submitted for approval at the Annual General Meeting of the Shareholders convened for 23 June 2009, and is expected to be paid in October 2009 to shareholders on the register on 29 May 2009.

Arnold Rørholt, Chief Executive Officer of Norcon, commented, "It is pleasing to see Norcon performing well with sustained growth and generating a healthy dividend, highlighting the secure and predictable nature of our business model. We believe market conditions continue to work in our favour, with customer demand for our products and services remaining strong. We have an exciting pipeline of new business, and have indentified further opportunities in a number of countries in the Middle East and Asia. We therefore look to the future with confidence."

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ABOUT NORCON:

Norcon is an international project management and outsourcing services business, operating in the telecommunications, IT and defence sectors. Registered in Isle of Man, headquartered in Cyprus, the Company has provided project management services since 1957 in more than 20 countries around the world. www.norconplc.com