Avanti Communications Group, the satellite operator, has sold capacity on its HYLAS 2 satellite to InSat in a five year deal worth $7.3m.
Chief Executive of Avanti David Williams said: "We are now just a few months away from the launch of HYLAS 2 and I am pleased to note the capacity is selling well. Several beams are already close to full saturation and others are fully optioned.
"The attractive demand growth characteristics in the Middle East and Africa in all segments combined with a benign macro-economic environment gives us great confidence that this satellite will sell out well within our five year target."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The share price rose 1.99% to 307.5p by 13:05PM.
NR
-
Trouble brews in B&M as bargain shops take a hitOpinion Once a stock market darling, B&M's share price has slumped. What has gone wrong for bargain shops?
-
US and China reach a ceasefire in their trade war after talks in LondonThe US and China's trading relationship – the most important one in the global economy – is back on track. Will the truce last?
