Team Talk beats forecast

Mobile radio communications company Team Talk has posted a 2 per cent rise in annual net profit, well above its earlier forecast.

The company recorded a net June year surplus of $3.11 million after tax, compared with $3.02 million last year.

Last year, the company signalled a net profit of $2.6 million.

Team Talk said the result was pleasing, but it was expecting a more difficult year ahead and forecast a lower 2007 net profit.

The telecommunications market was going through "unprecedented change" which presented some risks to its mobile radio services as well as opportunities.

The company has bought a stake in Araneo, which leases high speed wireless data to internet service providers (ISPs).