6 Jul 2015 07:00
6 July 2015
AVANTI COMMUNICATIONS GROUP PLC
2015 Pre-Close Trading Update
Avanti Communications Group plc ("Avanti" or "the Group"), a leading provider of satellite data communications services in Europe, the Middle East and Africa, issues the following pre-close trading update prior to its 2015 full year results.
Highlights
· Revenue for the 12 months ended 30 June 2015 over $80 million
· Constant currency continuing business revenue up over 50%
Trading
Trading has remained in line with the trends outlined in the third quarter statement. Avanti's continuing business revenue growth rate, assuming constant currency, increased over 50% in the 2015 financial year. As anticipated, this core recurring revenue growth was augmented in the fourth quarter with non-recurring revenue. Period end cash was over $120m.
Avanti expects to announce its full year 2015 results on 16th September 2015.
David William's Avanti's CEO said:
"We have continued to develop Avanti's growth platform in the fourth quarter. Avanti is winning new distribution partners and growing existing relationships in order to access the huge latent demand for connectivity in high growth markets. We have won a number of significant new contracts towards the end of the year, in the Broadband, Enterprise and Government sectors. Further significant transactions are pending, giving us an expectation of ongoing momentum in the first half of the new financial next year."
For further information please contact:
Avanti: Matthew Springett, +44 (0)207 749 6703
Montfort: Nick Miles / James Olley, +44 (0)203 770 7909
Redleaf: Hannah Nicolas, +44 (0)207 382 4734
Cenkos Securities: Max Hartley (Nomad) / Julian Morse, +44 (0)207 397 8900
Notes to editors
Avanti connects people wherever they are - in their homes, businesses, in government and on mobiles. Through the HYLAS satellite fleet and more than 150 partners in 118 countries, the network provides ubiquitous internet service to a quarter of the world's population. Avanti delivers the level of quality and flexibility that the most demanding telecoms customers in the world seek.
Avanti is the first mover in high throughput satellite data communications in EMEA. It has rights to orbital slots and Ka band spectrum in perpetuity that covers an end market of over 1.7bn people.
The Group has invested $1.2bn in a network that incorporates satellites, ground stations, datacentres and a fibre ring.
Avanti has a unique Cloud based customer interface that is protected by patented technology.
The Group has three satellites in orbit and a further two fully funded satellites under construction.
Avanti Communications is listed in London on AIM (AVN:LSE).
www.avantiplc.com