from reuters25 Nov 2008 12:17
Shares in Intec Telecom Systems (ITL.L: Quote, Profile, Research) climb 10.7 percent after the supplier of billing and operations support systems reports a 52 percent rise in adjusted pretax profit for the full year 2008 and gives a bullish outlook, prompting Panmure Gordon to up its recommendation to "buy" from "hold".
Panmure also upgrades its EPS forecasts for 2009 to 3.3 pence from 2.9 pence and lifts its target price to 41 pence from 36 pence.
The broker says the numbers were the company's "best ever" results, as "better sales combined with cost reduction fed through to better profitability and importantly better cash."