Norcon plc (NCON)
ISR viewNorcon enjoys stable, long term consulting relationships with telecom operators, delivering consistent revenue and profits growth and a high dividend payout.
Share price36.50p
Market cap.£17.8m
Financials
|
Year end December Profit & Loss |
December 2007 A £m | December 2008 A £m | December 2009 A £m | December 2010 A £m |
December 2011 E £m | December 2012 E £m |
|---|---|---|---|---|---|---|
| Revenue £m | 37.3 | 43.9 | 50.8 | 44.5 | 44.9 | 45.2 |
| Adj EBITDA £m | 5.3 | 6.6 | 7.9 | 4.9 | 4.8 | 4.8 |
| Adj EBIT £m | 5.2 | 6.6 | 7.9 | 4.9 | 4.8 | 4.8 |
| Reported PBT | 4.7 | 6.2 | 7.0 | 4.4 | 4.4 | 4.5 |
| PBT before exceptionals and AAG | 4.7 | 6.2 | 7.0 | 4.4 | 4.4 | 4.5 |
| Fully adj PBT | 4.7 | 6.2 | 7.3 | 4.5 | 4.6 | 4.6 |
| NOPAT £m | 3.7 | 4.6 | 5.5 | 3.4 | 3.3 | 3.4 |
| Reported EPS | 8.9 | 10.2 | 12.0 | 5.7 | 6.4 | 6.5 |
| EPS before exceptionals and AAG | 8.0 | 10.5 | 11.7 | 6.3 | 6.3 | 6.3 |
| Fully adj EPS | 8.0 | 10.5 | 12.3 | 6.5 | 6.5 | 6.5 |
| Dividend per share p | 0.0 | 5.1 | 5.5 | 2.9 | 1.3 | 1.3 |
| Cash flow & Balance sheet | ||||||
| Operating cash flow | 1.7 | 1.6 | 6.1 | 4.7 | 4.8 | 2.2 |
| Free Cash flow £m | 0.6 | -0.2 | 3.9 | 2.7 | 3.1 | 0.8 |
| FCF per share p | 1.5 | -0.4 | 9.4 | 5.5 | 6.2 | 1.5 |
| Capex | 0.1 | 0.2 | 0.0 | -0.1 | 0.0 | -0.1 |
| Acquisitions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Net cash flow | 0.7 | -3.3 | 1.9 | -0.5 | 1.7 | 0.1 |
| Shares issued | 0.0 | 0.0 | 0.0 | 4.1 | 0.0 | 0.0 |
| Net cash | 2.9 | -1.6 | 0.2 | 3.9 | 4.8 | 4.9 |
| Metrics | December 2007 A | December 2008 A | December 2009 A | December 2010 A | December 2011 E | December 2012 E |
| Revenue growth | 17.9% | 15.6% | -12.2% | 0.7% | 0.8% | |
| Adj EBITDA growth | 24.9% | 20.2% | -37.9% | -2.2% | 0.8% | |
| Adj EBIT growth | 25.1% | 20.3% | -38.1% | -2.2% | 0.8% | |
| Adj PBT growth | 30.9% | 19.3% | -38.5% | 1.6% | 0.8% | |
| Adj EPS growth | 30.9% | 17.2% | -47.3% | 0.0% | 0.8% | |
| Dividend growth | 9.0% | -48.3% | -55.1% | 1.1% | ||
| Adj EBIT margins | 14.9% | 15.5% | 11.0% | 10.6% | 10.6% | |
| Operating cash conversion | 24.1% | 76.4% | 94.8% | 100.0% | 46.4% | |
| Capex/Depreciation | -306.0% | 8.0% | 168.0% | 32.0% | 122.0% | |