IDT International's net profit in the year to March jumped 43 per cent from a year earlier to HK$352.6 million. Profit at the telecommunications and electronics equipment maker was bolstered by exceptional gains of HK$211.1 million from the spin-off of subsidiaries I-Comm Technology and Kyosha Holdings on Singapore's exchange earlier this year. Turnover rose 47 per cent from a year earlier to HK$2.63 billion, led by robust growth in sales of telecommunications equipment in the United States and Europe. Chairman Raymond Chan Wai-man projected the growth trend to continue this year, given that total orders on hand were 60 per cent higher than the same period last year. 'We are now ready for new markets and new product developments,' Mr Chan said. With a HK$507 million war chest, IDT is looking to enter Australia, New Zealand, the Middle East and a number of South American markets this year. Last year, the US and Europe combined accounted for 87 per cent of revenues. IDT has earmarked HK$70 million for research and development of new products, compared with less than HK$50 million last year. The ratio to revenues is, however, expected to remain the same, at 2 to 3 per cent, given the anticipated revenue growth. Marketing director Joel Tiphonnet said the company was developing Web-enabled telephones, PDAs and televisions, which he saw replacing personal computers as access devices for the Internet in households.