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Cellnet forecasts half-year profit to reach $1.6 million

Cellnet forecasts half-year profit to reach $1.6 million

The distributor claims it had experienced improved sales in July and August, signing up new customer contracts across A/NZ

Queensland-based distributor, Cellnet (ASX:CLT), is forecasting net profit to reach between $1.4 and $1.6 million for the half-year ending December 31.

In a statement to the ASX, the distributor claims increased sales through the expansion of its customer base will lead to achieving the result.

This will be an increase of about $500,000 to $700,000 compared to the same time last year. A full year guidance hasn't been supplied at this stage.

The distributor said it had recorded improved sales in July and August and had recently signed new customer contracts across A/NZ.

Cellnet CEO, Stuart Smith, said expanding its customer base was a result of the effort it had put into its customer service and product offering.

“We have some great brands and products, which together with our improved online capability, have made it easy for customers to do business with us,” Smith said in a statement. “Having an efficient, flexible and scalable operation ensures higher volumes are cost effectively absorbed into existing capacity and infrastructure available to us.”

In June last year, Cellnet wound up its IT division and sold its IBM business to Avnet.


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