17 Oct 2016 09:19
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Don't have an account? Click here to register.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.
More News
16 Sep 2016 08:02
BUZZ-Avanti: plans debt issue to address liquidity needs, shares rally
** Satellite communication services provider Avanti Communications shares up 9.5%, best day since August ** Co says begun process to pay debt due in Oct. through debt issue which matures in 2019, to address liquidity issue ** Co sees rev growth 35-40 pct over next 2-3 yrs ** 45%
Read more5 Aug 2016 15:36
Avanti offers little explanation as share price surges
(ShareCast News) - Satellite data communications services company Avanti Communications issued a statement on Friday afternoon, as its share price surged. The AIM-traded firm offered little explanation in its two-line release, however, as its stock shot up more than 35% to 44p. "As announced on 11
Read more1 Aug 2016 07:28
Inmarsat shuns bid for debt-laden Avanti
(ShareCast News) - Inmarsat has passed up the opportunity to make a bid for cash strapped smaller rival Avanti Communications, which put itself up for sale last month. Inmarsat responded to Avanti's advisers when they made contact as part of the AIM company's strategic review and formal sale proc
Read more9 May 2016 15:03
11 Mar 2016 10:15
Avanti signs capacity deal for HYLAS 4 satellite
(ShareCast News) - Data communications outfit Avanti said it had signed its first pre-launch contract for capacity on the HYLAS 4 satellite. Avanti said it will supply Bentley Walker, one of its key existing customers, with capacity on HYLAS 4 across Sub-Saharan Africa in a $1m commitment. HYLAS 4
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