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18 Jul 2014 07:00
Avanti Communications Group PLC
Date of Publication of Preliminary Results and Trading Update
Avanti Communications Group plc ("Avanti") (AIM: AVN.L) announces that it expects to publish its preliminary results on Monday September 15th.
Revenues are expected to be in line with market expectations in the range of $64m - $65m. However, PBT will be lower than consensus with approximately half of the variance resulting from bond refinancing costs of $7m and the balance attributed to exchange rate changes, year end provisioning and set up costs on large new projects.
With a cash balance of $195m at year end, Avanti is well positioned for 2015 and well financed to proceed with the construction of HYLAS 4, due for launch in 2017.
--ENDS--
For further information please contact:
Avanti Communications Group Plc Tel: +44 (0) 20 7749 1600
David Williams, Chief Executive
Nigel Fox, Finance Director
Cenkos Securities plc Tel: +44 (0) 20 7397 8900
Max Hartley (Nomad)/Julian Morse
Jefferies Hoare Govett Tel: +44 (0) 20 7029 8000
Neil Collingridge
Tulchan Communications Tel: +44 (0) 20 7353 4200James Macey-White
About Avanti Communications
· Avanti Communications is a carriers' carrier, selling wholesale data telecoms to service providers which use them to create networks for enterprise, carrier, government and consumer users.
· Avanti Communications' network consists of:-
- two high throughput satellites in orbit, called HYLAS 1 and HYLAS 2; a multiband satellite called Artemis plus a fourth satellite in construction called HYLAS 3; and a fifth called HYLAS 4
- an international fibre network connecting data centres in several countries
· Avanti Communications has GEO satellite network spectrum filings in the ITU Master Register for Ka band at 33.5° West and 31.0° East and for Ka, Ku, S and L-band at 21.5° East.
· Avanti Communications serves customers in Europe, Middle East and Africa.
· Visit: www.avantiplc.com
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