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Norcon*: Final results (CORP)
The final results reflected the ongoing strategic transition of the business as it diversifies its customer and geographic exposure. Revenue was $46.1m compared with forecast $46.0m and the group reported a loss before tax of $0.33m compared with a forecast loss of $0.60m. The group finished the year with gross utilisable cash of $5.1m and net cash excluding borrowing of $2.1m. The outlook statement points to higher revenue levels in 2014 but notes that the “impact on overall performance will not be significant before 2015”. Our 2014 forecast remains under review.
Analyst: Mark Paddon