The game changer was Iridum GO and any further growth will be from their ability to develop as a larger OEM producer with a broader portfolio of more mainstream products. Unfortunately that also means that at 45c+ they were very reliant on those orders continuing to come through to support the valuation.
That said, the MD is a good operator and a lot of the things in this announcement may prove one-offs.
Ann: Profit Outlook - World Reach Limited, page-8
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