AUSTRALIA'S CELLNET TELECOM SEES REVENUE DROP 20 PCT.

AsiaPulse News, November, 2002

BRISBANE, Nov 15 Asia Pulse - Cellnet Telecommunications Group Ltd (ASX:CLT) blamed a downturn in mobile phone handset sales had led to an unexpected 20 per cent tumble in revenue for the first four months of the 2003 financial year.

Managing director Mel Brookman said uncertainty in the economy had meant the past two and a half months of trading for Australia's biggest mobile phone accessories distributor were "below our expectations".

Cellnet shares today finished down 31 cents, or 23 per cent, at $A1.04 ($US.58), one cent shy of the company's all-time low.

"Our first two months of the financial year, we were on budget and the last couple of months have been softer than our forecast budget, so we're a little behind," Mr Brookman told AAP....