Shares in telecommunications distribution company Cellnet plunged more than 8 per cent yesterday after the release of a $6.1 million net profit for the year to June 30 on revenue of $586 million.
Chairman Darryl McDonough said he was surprised at the sharemarket reaction considering the company had flagged the 33 per cent decline in net profit for 2005 in a release on August 22.
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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com
