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Unit 2: Global Communications |
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Ralph Harrison is the Chairman of TELTECH Plc, a worldwide communications company. He is addressing the shareholders. |
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"Ladies and Gentlemen, it gives me a great pleasure to be here with you and to have the privilege of addressing you at this Annual General Meeting. Last year was another excellent year for TELTECH as sales and revenue increased by 9% and profitability soared by 11%. Our financial performance, as stated in the Annual Report, has been a strong one. |
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As you know, we mainly focus the core of our business on communications systems and cables, but we have also been fully committed to future-oriented technologies. Our Space and Communications Group are busy working on R & D projects such as digital cellular communications systems, video communications and voice systems applied to office automation. If this expense affects our profits in the shorter term, I can tell you the payoff is going to be attractive in the longer term. |
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The world economy experienced a slowdown that had a negative impact on most businesses. But thanks to our dynamic sales staff and efficient distribution network, TELTECH was able to remain profitable. Because of market deregulation and a keen competition among carriers, we had to cope with a sustained demand for mobile telephoning and fiber telecommunications cables on earth and under sea. |
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At present, we are expanding, geographically speaking, to new areas in Asia, the Pacific and South America including joint ventures in Eastern Europe. |
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Ladies and gentlemen, we have come to a point where we can consider ourselves to be one of the few to be able to offer global services to international clients with offices abroad. We plan to introduce very soon network interconnection, i.e. virtual private networks covering several countries. Globalisation is the name of the game. In a few years time the market for global telephony will be dominated by just four or five suppliers: we want to be one of them..." |
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