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February 9, 1988

ECT CELLULAR, IN NO HURRY TO GO PUBLIC, PURSUES GROWTH PLANS REGARDLESS

By CBR Staff Writer

ECT Cellular Ltd, which pulled its planned flotation of 15% of its equity on the Unlisted Securities Market after Meltdown Monday, has put its public offering on hold for a while longer, leaving the problem with its broker Capel Cure Myers, which is unlikely to advise a move in the first quarter. But ECT insists that lack of the UKP4m it looks for from the flotation is not holding up any of its plans for expansion. The cellular telephone specialist has plans to move into both Band III and private mobile radio during the coming year; has just been made an authorised phone supplier to Racal in Australia, where Racal has one of two licences to sell cellular air time on the Australian system; and anticipates an UKP18m turnover year, with pre-tax profits likely to top UKP1m in the year to March ’88. Last year saw just under UKP12m in turnover and UKP493,000 pre-tax. One of its hit record products for the second half of the year is likely to be the California built Interstate Voice Products’ Callmaid system, which accepts voice commands to dial numbers automatically, making it especially appropriate for car phones. The company claims it has sold over 1,000 since first shipments in September and cannot keep up with the demand.

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