Cellnet increases half year profit forecast

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Cellnet increases half year profit forecast

Strong July and August sales have prompted ASX-listed distributor Cellnet to lift its half yearly forecast.

Net profit for the half year ending 31 December is expected to be between $1.4 million and $1.6 million, an increase of $500,000 and $700,000 from the $900,000 earned in the previous corresponding period.

Cellnet said the upgrade was the result of  "increased sales" through an expanded customer base in Australia and New Zealand and improved sales in July and August.

In June 2009 the company divested itself from IT distribution then signed agreements with Energizer for its Energi To Go suite of rechargeable power packs and Case-mate. 

CEO Stuart Smith said that the company's expanding customer base was a result of effort put into "customer service and quality product offering".

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