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Cellnet shares jump 15% on strong 1H forecast

Cellnet shares jump 15% on strong 1H forecast

Shares in ICT product distributor Cellnet (ASX:CLT) have jumped over 15% since the company forecast a profit of between $1.4 million and $1.6 million for 1H11.

The company, which distributes flash memory, mobile phone accessories and other retail products, earned $900,000 in FY10.

CEO Stuart Smith said the company had experienced improved sales through the first two months of the year, and expects to keep up this rate of growth due to recent customer wins.

“Expanding our customer base is a result of the effort put into our customer service and product offering,” he said.

CLT shares are today trading 15.63% higher at $0.370.

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