Avanti Communications expects move into profit

Shares of satellite operator Avanti Communications soared after it said while losses for the half year widened, it expects to become cash flow positive in the second half of the year.

Shares of satellite operator Avanti Communications soared after it said while losses for the half year widened, it expects to become cash flow positive in the second half of the year.

Loss before taxation swelled to £15.94m for the six months ended December 31st 2012 compared to a loss of £6.6m before. Revenue for the period rose to £8.6m from £5.1m.

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