Satellite communications distributor Satcom will look for more ‘strategic’ acquisitions after lifting annual profits 12 per cent to $4.6 million (£2.6million).

Salisbury-based Satcom Group Holdings  increased turnover 24.3 per cent to $72.1 million in the year to June, winning new business with the US government, a trend which the AIM-quoted company says it expects to continue in the 2008-09 period. Steered by chief executive Mark White, Satcom clinched a ‘master distribution status’ agreement with global mobile communications equipment maker Thrane & Thrane in September 2007 and last April paid $3.4 million for SDDN Global, thereby expanding its product range to include very small aperture terminal (VSAT) broadband products.

Chairman Richard Vos says Satcom ‘remains a participant’ in the consolidation of the mobile satellite services sector and ‘will continue to look at strategic, accretive acquisition opportunities as they arise’. Paying with equity might not be so easy, now that the shares, which floated at 30p three years ago and reached 44.5p in 2007, have slid to 14.5p, valuing the company at £8.65 million.

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SatCom Group	AIM	£10.44m	17.50p	0.00p
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