Mobile distie battles Dick Smith pain with stable result

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Mobile distie battles Dick Smith pain with stable result

Cellnet Group’s half-year revenue dropped by 4.4 percent to hit $41.8 million from $43.7 million in the previous corresponding period.

The company’s net profit after tax fell 6.45 percent to $1.63 million, down from $1.74 million in the previous period.

In a statement to the ASX, the company said the shortfall in profit was mainly due to the difficult trading conditions caused "by the Dick Smith group suspending all purchasing in the lead-up to the Christmas trading period last year."

According to Cellnet, “The company’s balance sheet remains healthy leaving it in a good position to continue to evaluate and potentially execute organic and acquisitive growth opportunities."

Cellnet distributes lifestyle technology products such as mobile phones, tablets, notebooks and hybrid accessories to retail and business channels partners within the ANZ region.

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5G phones have arrived. How long until you buy one?
OMG right now this minute shut up and take my money
About six months from now, once network coverage improves
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