With its share price up 28% today alone, shareholders of satellite equipment business World Reach Limited (ASX: WRR) will be thrilled by the company's start to 2015…
Source: Google Finance.
Up 200% in the past three months – compared to an 8.6% return from the S&P/ASX200 (ASX: XJO) (Index: ^AXJO) – World Reach shares have again jumped on the back of a positive ASX announcement.
In February World Reach announced a full year net profit of $252,000 (up from a net loss a year earlier) as revenues jumped 57%.
Fortunately the outlook for future growth also appears upbeat.
Today's announcement of an agreement for the design, development, production and sale of a new concept satellite terminal with a major international mobile satellite service network will continue to power the company through 2016.
As the company itself said in a media release this morning, "This is the fourth major development project the Company has secured and we are delighted with the opportunity this presents for the Company to further diversify and expand the business into new markets with novel and innovative products."
Although extremely small and speculative, World Reach could be worthy of a spot on your watchlist.
