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Another strong result from TeamTalk

Another strong result from TeamTalk

Listed telecommunications company TeamTalk has reported another solid profit despite the recession affecting the mobile radio part of its business.

Group profit was up 3.4% to $3.8M for the year to June, a result ahead of the company’s guidance.

Managing Director David Ware puts this excellent profit result down to the resilience of the company’s business model and the diversification strategy bearing fruit.

“Three years back we were exclusively a mobile radio company. Had we not diversified we would have been standing alongside many of our mobile radio customers and fielding the full brunt of the economic downturn.

Instead we are well positioned as a niche player in the telecommunications market. Our premier product is broadband access which is at the bricks and mortar end of what is the fastest growing segment of the telecommunications market.

Today our traditional mobile radio services contribute less than 50% of our revenue.”

The Directors declared a final fully imputed dividend of 10 cents per share bringing the full year dividend to a fully imputed 20 cents per share.

TeamTalk’s prospects over the next 12 – 18 months will be heavily influenced by the speed of the economic recovery and the implementation of the Governments telecommunications strategy.

However Mr Ware is quietly optimistic about the future prospects for the company saying, “As a small agile niche player with less than 1% of the telecommunications market we are well positioned to take advantage of opportunities as they arise.”

ENDS

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