ABN-Amro is recommending Esat Telecom as a buy for investors. In its latest report on the company the brokers say Esat's recent financial figures reinforce its positive stance on the stock.

"We believe that Esat's underlying performance has significantly outpaced its share price," according to ABN-Amro. It believes the longterm growth story for Esat continues to look promising.

The broker expects Esat Telecom to deliver 30 per cent revenue growth from its fixed-line operations and 23 per cent increase in mobile phone business over the next five years. Completion of the fixed-line backbone network at the end of the year along with continuing delays in the launch of the third mobile operator are likely to underpin future operating performance.