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Avanti revenues improve, results delayed

Fri, 31st May 2019 09:44

(Sharecast News) - Satellite data services provider Avanti Communications saw revenues move ahead in the first quarter of its trading year, keeping the group on target against internal plans.Revenues for the three months ended 31 March came to $14.3m, up from the $12.8m recorded a year earlier, while EBITDA was $4.6m. Cash balances at the end of the quarter were $16.3m and Avanti also had a period end backlog of $164.3m.Avanti assured investors that trading was on target to meet its internal plans, with its previously announced cost optimisation project starting "well".The AIM-listed company said it was "well placed to achieve the savings targeted for the full year", which should result in a positive EBITDA from its bandwidth business in 2019.Avanti revealed earlier in the week that it would not be in a position to publish its audited financial results for the 18 month period to 31 December until 7 June and as a result, it would not be possible for its accounts to be laid at its AGM on 24 June.As a result, Avanti will hold a separate general meeting, to be convened as soon as possible after its AGM.As of 1000 BST, Avanti shares had slipped 2.53% to 1.61p.
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2 May 2014 08:56

Avanti Communications signs multi-million dollar contract

Broadband services group Avanti Communications has signed a multi-million dollar contract extension with Avonline broadband to target European consumers with new satellite broadband. The UK-based satellite group said the new deal will provide a series of tailored broadband solutions to customers ac

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30 Apr 2014 11:39

Avanti Communications Wins Satellite Contract With TelOne

LONDON (Alliance News) - Avanti Communications Group PLC said Wednesday it has won a satellite broadband contract with Zimbabwean national telecommunications firm, TelOne. Avanti said the satellite broadband contract will see TelOne deliver broadband services to consumer, enterprise and pub

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3 Apr 2014 09:35

Avanti Communications Wins Middle East Satellite Contract

LONDON (Alliance News) - Avanti Communications PLC said Thursday it has been selected by Turkish telecom operator ESER Telekom to deliver its satellite broadband coverage in the Middle East region. ESER said it will use leading Ka-band technology to meet the growing demand for broadband in

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3 Apr 2014 08:20

Avanti Communications wins Turkish telecom contract

Avanti Communications has won a contract with Turkish telecom operator ESER Telekom to deliver its satellite broadband coverage in the Middle East. ESER, based in Ankara, will deliver broadband packages using Ka-band technology to consumer and enterprise customers currently out of range of terrestr

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21 Feb 2014 15:18

Sector movers: Vodafone cash return lifts mobile telecoms higher

Speculation surrounding the cash windfall for Vodafone shareholders gave the mobile telecoms sector a boost on Friday, as the firm's sale of its stake in Verizon Wireless will prompt the largest capital return in corporate history. According to analysts at Bank of America Merrill Lynch, the transac

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19 Feb 2014 13:41

UK MIDDAY BRIEFING: BAE Systems, Rolls-Royce Fly On Saudi Jet Deal

LONDON (Alliance News) - Defense giants BAE Systems and Rolls-Royce Holdings are among the biggest gainers on the FTSE 100 Wednesday, after the British and Saudi Arabian governments at long last came to a deal over how much more Saudi Arabia should pay for the

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19 Feb 2014 11:50

UK WINNERS & LOSERS: Sports Direct Up On Profit Gain, M&S Revamps Online

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Wednesday. ------- FTSE 100 - WINNERS Sports Direct International, up 6.2%. The sports goods retailer said gross profit grew by 14.6% in its fiscal third quarte

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19 Feb 2014 10:43

STOCKS NEWS EUROPE-UK small caps outperform blue-chips

The FTSE Small Cap index and the junior-listed FTSE AIM All Share Index trade flat, outperforming a 0.4 percent weaker FTSE 250 mid-cap index and a 0.2 percent fall on the blue-chip FTSE 100 index. B.P. Marsh, a venture capital provider to early stage financial services businesses, rises 2.

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19 Feb 2014 07:32

Avanti Comms Signs 3G Services Deal With Vodafone Company

LONDON (Alliance News) - Avanti Communications Group PLC said Wednesday it has signed a three-year technology deal with a Vodafone European company. The agreement, a three-year supply deal, is for the provision of Avanti's 3G IP backhaul services to the Vodafone company. David William

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19 Feb 2014 07:16

Avanti Communications wins three-year 3G deal with Vodafone

Telecoms services and satellite group Avanti Communications has won a three-year contract with Vodafone. Avanti, which has a market capitalisation of around £230m, said on Wednesday that it has signed an agreement to supply 3G IP backhaul services in Europe to the telecoms heavyweight. David Willi

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12 Feb 2014 11:29

Avanti Widens Pretax Loss On Depreciation Charge Despite Revenue Rise

LONDON (Alliance News) - Avanti Communications saw its pretax loss widen despite nearly doubling revenue in the half year ended December 31, 2013, as it was hit by higher sales cost and increased depreciation charges relating to a delayed satellite launch. The satellite communications compa

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12 Feb 2014 08:25

UK MORNING BRIEFING: Telecity Drops 13% As Market Awaits BOE

LONDON (Alliance News) - Shares have opened mostly flat Wednesday, as the market awaits the Bank of England's Quarterly Inflation Report at 1030 GMT.

Telecity is holding back the FTSE 250. The data-centre provider is down 13% after announcing higher 2013 profit and

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27 Jan 2014 15:30

Sector movers: Vodafone sinks mobile telecoms as AT&T rules out bid

The news that AT&T has ruled out a takeover bid for Vodafone sparked a big drop in the UK group's share price on Monday, sending the mobile telecommunications sector to the bottom of the pile. At the request of the UK Takeover Panel, US telecoms giant AT&T released a statement quashing recent media

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16 Dec 2013 10:29

Avanti Communications takes over ownership of satellite

Avanti Communications has signed a contract with the European Space Agency (ESA) to take over ownership of the ARTEMIS satellite. The company will assume ownership from January 1st 2014 of the satellite, which offers communication services and will provide coverage of Europe, Africa and the Middle

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9 Dec 2013 13:50

Sector movers: Inmarsat, Vodafone lift mobile telecoms higher

Mobile telecommunications stocks were on the rise on Monday as the share price of satellite operator Inmarsat jumped after the successful launch of its first Global Xpress (GX) satellite. The company confirmed that the Inmarsat-5 F1 satellite, which was launched from the Baikonur Cosmodrome in Kaza

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