Norcon Share Discussion Threads

[norbert colon] 18/9/2013 16:57

Indeed it is valued on the market below book value / tangible book value and 9m US$ cash on balance sheet / net cash 1.5m US$ and generally most metrics I check for look ok. I bought some after the Thailand deal in July so a new holder and need to do more research. A very small holding for me but I see potential.

[cascudi] 18/9/2013 13:55

it seems from finance statement that this company has working capital of 18m£
19% of current assett is in cash.
director bought at 15p
and it seems they are winnig some contracts
it seems an interesting company imo

[sladdjo] 06/8/2013 16:02

as an FYI - apparently the company doesn't have much cash in Cyprus (several hundred thousand) so shouldn't be affected too badly by the troubles there. But as always, DYOR.

[diku] 27/7/2013 12:48

This is showing signs of life....

[russman] 19/7/2013 20:47

Another contract lacking quantum. My expectation is better.

[norbert colon] 19/7/2013 10:34

CJohn

Yes net (net) current assets of circa 27p. Cash of 23p.

Will add below 15p.

All other metrics generally pretty good - just needs patience

Nobby

[cjohn] 19/7/2013 09:37

The current Price is still ridiculously low, if you look at current assets.

[norbert colon] 19/7/2013 08:39

Bought in today - very annoying that I didnt buy yesterday just hadnt finished my research then RNS this morning! One to hold onto for 2-3 years whilst their new strategy plays out. Certainly from a valuation perspective the current price is a steal.

[cjohn] 11/7/2013 10:50

I see where you're coming from, Spob.

[diku] 09/7/2013 19:45

Maybe they all read my post!!....No Advice Intended....

[russman] 09/7/2013 17:23

Someone was determined today.

[diku] 08/7/2013 07:51

This will eventually get taken private....

[spob] 03/7/2013 01:48

Auditors registered in Cyprus doesn't inspire much confidence with me

How about you CJohn ?

[cjohn] 22/6/2013 13:33

PIcked up some more of these at close to 12p; at a fraction of current assets and book value.

If there is any subsequent good news, these will look very undervalued.

[cjohn] 01/5/2013 13:15

Ah, I hadn't seen that, CanteatValue. Thanks.

You're right Russman. The heavy discount to receivables is startling. If you look back at their accounts of a few yearsa ago, they did a better job of collecting receivables. There's a hint in the latest accounts that this is their intention.

[russman] 25/4/2013 22:14

If the receivables could be turned into cash quicker, Norcon could pay for itself.

[canteatvalue] 25/4/2013 12:02

Seems the Chairman's been copying you CJohn!

[cjohn] 25/4/2013 11:39

Trading at 0.4 tangilble assets, nearly all of which are cuurrent. Much too cheap. Bought more over the last few days.

[cjohn] 20/2/2013 12:32

Well, I'm thinking of buying in here. The recent update was poor: turnover to be as expected, but loss marginally higher. But these look criminally cheap on asset grounds.

[cjohn] 24/9/2012 10:18

Can the company find businees to replace that lost with its main customer in Saudi Arabia? Finding new business carries costs and reduces margins.

These look tempting at a 2/3rds discount to tangible assets. (Nearly all those assets are current.)

[maltatrader] 17/9/2012 15:26

looks like something going on........ship is not steady.....its like costa concordia! we definately need an update rns on the firm's strategy

[diku] 17/9/2012 15:22

First the CFO departs and now unfortunately CEO on sick leave just before results....is it a coincidence or something going on?....

[maltatrader] 17/9/2012 11:04

rns out

17 September 2012

NORCON PLC



("Norcon" or the "Company")



TRADING AND BOARD UPDATE



Norcon plc (LSE/AIM: NCON), the global communications network specialist issues the following update.



The Company has recently undertaken a forecasting exercise for the second half of the current financial year and announces that revenue for the year ending 31 December 2012 is likely to be slightly below expectations and profit before tax is likely to be well below the Board's initial expectations.



This is the a result of margin pressure in the Company's operations that is now expected to continue in to the second half of the year. This margin pressure relates chiefly to the Middle East operations where the company was undergoing a transition from the closing out of old to new projects and delays in the commencement of new projects outside the Middle East. However, positive signs have already commenced in terms of new contract awards in North America and Asia.



The Company has continued to invest in its subsidiaries, investing in geographies where it sees good growth potential over the medium and long term, and hiring skilled and experienced staff who it believes can help Norcon to take advantage of that potential. The Board remains confident that the results of this investment will begin to beseen in 2013and benefit the future years.



The Company also announces today that Norcon CEO Mr. Arnold Rørholt is on sick leave for an indefinite period. Mr. Steve Preston, the CEO of the subsidiary Norconsult Telematics, will serve as Acting CEO of Norcon plc during the period, effective immediately.



The Company's interim results will be released on 20 September.

[hezza123] 27/4/2012 13:56

Large buy went through earlier (in relation to NMS of course). Can only buy up to 1000 electronically, so could be some movement in the coming days. Slow and steady wins the race!

[russman] 19/4/2012 18:02

Interesting 645k trade at the mid-point today.