LONDON (Alliance News) - Avanti Communications Group PLC on Monday said revenue grew in the third quarter of its financial year against the second and it affirmed its full-year guidance.
Avanti said its revenue for the quarter to the end of March was USD19.5 million, up 15% on a constant currency basis against the second quarter of the financial year which ends in June.
The group saw good order wins in the quarter and secured a new contract to provide connectivity to 4G base stations in the UK with EE Ltd, the mobile operator recently acquired by BT Group PLC.
Avanti added demand for its High Throughput Ka band satellite capacity in Europe, the Middle East and Africa has been strong, particularly in the large telecommunications and government sectors.
Avanti affirmed its guidance for revenue in the year to the end of June to grow around 50% year-on-year on a constant currency basis.
Shares in Avanti were up 5.9% to 90.50 pence Monday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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