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NetComm forecasts 60% profit rise for FY03/04

  • 02 June, 2004 16:33

<p>SYDNEY, June 2, 2004 – NetComm Ltd management is pleased to advise that the company is on track to deliver a significant increase in net profit for FY 2003/04.</p>
<p>The year-to-date unaudited management accounts for the current financial year, as at 31 May 2004, point to a net profit in the range of A$1,8M to A$1,9M (approximately 2.5 cents per share to 2.7 cents per share) for the full year, ending 30 June 2004. The median of this range is approximately 60% up on the A$1.16M profit reported for the previous 12 month period.</p>
<p>Providing that current sales and expense levels continue for the month of June, NetComm believes that it will deliver on this forecast, at which point the board would look favourably at increasing the final dividend payout by a similar percentage.</p>
<p>NetComm management remains optimistic for continued strong growth in the coming financial year, based largely on the rapid growth in broadband, or high-speed Internet connections for business and the home.</p>
<p>The company will confirm it’s year-end performance as soon as possible, and will advise of any new developments likely to have a material impact on this guidance.</p>
<p>About NetComm</p>
<p>NetComm is Australia’s leading provider of broadband solutions with a commanding position across the key markets of DSL, wireless, routing, high-speed networking and digital surveillance systems. The company is listed on the Australian Stock Exchange (ASX: NTC). For specific enquiries or to arrange an interview with David Stewart or one of our engineers, contact David Binning: (02) 9424 2515, 0410 644 972, davidb@netcomm.com.au. Alternatively, visit www.netcomm.com.au.</p>

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