LEAD24 Feb 2007 17:42
Leadcom, which puts together mobile phone systems in emerging countries, yesterday unveiled a strong set of annual results on all metrics. Profits rose 40 per cent to $14.7m, revenues jumped 42 per cent to $138m, while the dividend was hiked to 2.1 cents a share. The Israeli group's two biggest geographical territories performed particularly well. Sales to Europe, the Middle East and Africa rose by 68 per cent, while to the Americas they rose by 30 per cent. Clearly there is strong momentum behind the business, and evidence that the company has secured a foothold in India, a potentially huge market, is exciting. Although sales to India stood at only $1.7m last year, they are likely to rise significantly in the coming years. Given the high growth parts of the world in which Leadcom operates, its shares are far from expensive. They currently stand at just 11.5 times estimated earnings for 2007