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Don't have an account? Click here to register.Avanti Communications posts narrower first half loss
Thu, 04th Feb 2016 12:27
(ShareCast News) - Avanti Communications, which provides satellite data communications services, said its loss for the half year narrowed.For the six months to the end of December 2015, the loss narrowed to $45.5m (£31m) from $48m, on largely flat revenue of $31m compared with $31.1m in the same period a year earlier.Avanti won $40m of contracts mainly with government and large telecoms customers in the second quarter, which it reckons will make a strong contribution to second half revenue.The company said its expectations for 50% growth in continuing revenue at constant currency in the full 2016 financial year are supported by recent order wins.Chief executive officer David Williams said: "Our growth prospects are supported by both our recent order wins and a very strong pipeline of near term opportunities that are in advanced stages of negotiation."Avanti is strongly capitalised with more than adequate cash headroom. In a pioneering market, the combination of a good product, good customers and a fully funded model assures us that Avanti has a successful trajectory ahead."At 1230 GMT, Avanti shares were down 9.8% to 124.50p.
More News
28 Jan 2016 16:03
7 Dec 2015 11:24
UPDATE 1-Avanti to provide satellite broadband to remote areas of Britain
(Adds background, Avanti shares) LONDON, Dec 7 (Reuters) - Satellite group Avanti Communications won a contract with BT to help supply broadband services to British homes that have slow connections on terrestrial networks. The company said on Monday that up to 300,000 homes that could
Read more7 Dec 2015 07:21
Avanti to provide satellite broadband to remote areas of Britain
LONDON, Dec 7 (Reuters) - Satellite group Avanti Communications has won a contract with BT to help supply broadband services to British homes that have slow connections on terrestrial networks. The company said on Monday that up to 300,000 homes that could not access speeds greater than 2Mb
Read more20 Nov 2015 16:16
12 Nov 2015 10:44
3 Nov 2015 09:20
Avanti Communications wins broadband contract with Telkom SA
(ShareCast News) - Avanti Communications has won a contract with Telkom SA to provide national high-speed broadband coverage across South Africa. The provider of satellite data communications services said the service will be supplied using Avanti's HYLAS 2 Ka-band satellite, which has 100% coverage
Read more16 Sep 2015 15:27
Avanti Communications' full-year loss narrows as revenue grows
(ShareCast News) - Avanti Communications posted a slightly narrower pre-tax loss for the year ending 30 June as revenue grew. The company, which provides satellite data communications services, reported a loss of $73.3m, narrower than the $87.7m loss last year, as revenue rose 30% year-on-year to $8
Read more16 Sep 2015 08:21