LEADCOM, a real growth company.

steveb3, the reason for dropping slightly is to take into account the BSNL work being of a lower margin than normally obtained. This is always the other side of big contracts, that being slightly smaller margin work.

They have progressed well with the smaller contract higher margin work, this of course will continue, but allowance must be made for a slight reduction in margin on the mega contracts.

Trying to be conservative at present, perhaps with only in my worst case estimate of 70m$ additonal from BSNL in 2007 with the rest being in 2008/9 there will be no reason for the margins to drop any signficant amount due to the weighting of higher margin work (180 over 70) and therefore we should be looking for a figure over 10% for NPBT margin, with the potential to slip a little in 2008 as revenues should soar over the 350m level.....