Listed mobile radio firm TeamTalk has posted a 6.6 per cent rise in first-half profit and boosted its full-year forecast to $3 million.
The company, which supplies mobile radios to emergency services, taxis and couriers, recorded a net after-tax profit of $1.51 million for the six months to December 31.
The company said it expected a full-year profit of $3 million, up from a forecast of $2.6 million, following stronger than expected network revenues, a modest gain from the $1.9 million purchase of the MCS Digital RT network business and small, non-recurring sales.
"Despite a competitive marketplace and a likely weakening in the economy, the company now expects the result will be around $3 million, a result similar to last year," a TeamTalk statement said.
Shares in TeamTalk, which declared an interim dividend of 9c, last traded steady at $2.20, against a year high of $2.79 and a low of $1.98. Total operating revenue was flat at $9.96 million.
"While modest in size, this [MCS] acquisition increases TeamTalk's customer base and adds some additional services to the company's product portfolio."
MCS digital would make only a modest contribution to full-year earnings, due to acquisition and restructuring expenses, TeamTalk said.
- NZPA
Team talks up annual forecast
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