Economy

Small cap wrap: Fone-Zone, ThinkSmart

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Mobile phone business Fone-Zone has reported a 222% increase in profit, from $1.9 million second half 2006 to $6.9 million in the corresponding period of 2007.

The acquisition of the Next Byte Apple reseller chain, improving phone sales and access to an improved Next G handset range from Telstra were the chief reasons for the improvement.

Revenue also increased to %148.5 million for second half 2007, a 50% improvement on second half 2006.

“The last six months has seen the start of the diversification plan within the Fone-Zone Group which has allowed us to strengthen our traditional product offerings, as well as accelerate our diversification process into a strong position in both the telecommunications and computer technology markets,” chief executive David McMahon says.

For more information on the business achieving stellar growth in the telecommunications sector, don’t miss today’s SmartCompany Dun & Bradstreet Industry Growth List.

IT finance company ThinkSmart announced its results yesterday, with 2007 second half yearly revenue up 35% on the corresponding period in 2006 to $36.3 million, while net profit after tax (pre-amortisation and IPO costs) was $5.1 million for the same period.

And recruiter Ambition Group has recorded a 10% lift in net profit, from $3.7 million in second-half 2006 to $4 million in the same period in 2007.

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