{"id":86511,"date":"1999-12-31T00:34:00","date_gmt":"1999-12-30T13:34:00","guid":{"rendered":"http:\/\/smartoffice.com.au\/cellnet-results-worse\/"},"modified":"1999-12-31T00:34:00","modified_gmt":"1999-12-30T13:34:00","slug":"cellnet-results-worse","status":"publish","type":"post","link":"https:\/\/staging.strixdevelopment.net\/smartoffice\/1999\/12\/31\/cellnet-results-worse\/","title":{"rendered":"Cellnet Results Worse"},"content":{"rendered":"<p>Cellnet Group Limited profit results for the last fiscal year are likely to turn out worse than the company&#8217;s previously downgraded market advice.<\/p>\n<p>The distributor has told the Australian Stock Exchange that while the 2005 year results are still being finalised it is already clear that net profit after tax will be approximately $6.1 million. This is less than the Company&#8217;s previous forecast net profit after tax of between $7.3 million and $7.5 million.<br \/>The second half of the year turned out something of a disaster for the company which despite significantly higher revenues than previous years failed to match last year&#8217;s profit levels.<br \/>A Cellnet statement to the exchange blamed &#8220;lower than expected performance in the markets for the Company&#8217;s higher margin products with a decline in the average margin&#8221; and a decision to increase inventory write offs.<br \/>New managing director, Adam Davenport, has been undertaking a detailed review of the Company&#8217;s structures and operations and a comprehensive program to reorganise the structure of business units and management has been approved by the board claims the company.<br \/>The Group also plans to make &#8220;substantial reductions&#8221; to its inventory and will focus on holding that inventory which has both high demand and high profitability.<br \/>As part of the reorganisation the Company has created a new role of General Manager Supply Chain. An experienced, senior manager has been identified and it is anticipated he will take up this role shortly.<br \/>Cellnet Group expects to announce its results in the week commencing <st1_date Year=\"2005\" Day=\"5\" Month=\"9\">Monday, September 5, 2005.<\/font><\/font><\/p>\n<p>&nbsp;<\/font><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cellnet results for the last fiscal year are worse than the company&#8217;s previously downgraded market advice.<\/p>\n","protected":false},"author":59,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[28,658],"tags":[],"class_list":["post-86511","post","type-post","status-publish","format-gallery","hentry","category-archive","category-credit","post_format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cellnet Results Worse - Smart Office<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/staging.strixdevelopment.net\/smartoffice\/1999\/12\/31\/cellnet-results-worse\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cellnet Results Worse - 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