Avanti on track in 2012

AIM-listed satellite operator Avanti Communications said its revenue was in line with house broker estimates for the financial year to 30 June 2012.

The group said it had added £42.3m of backlog in the four months to the end of April.

Backlog increased to £213m from the £181m reported at the of December, the firm said.

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Its pipeline of potential sales stands at £529m, excluding £170m options on HYLAS 2, the second of its satellites.

Avanti said that during the period HYLAS 2 had successfully completed one of its last key technical milestones, thermal vacuum testing, and remained on target for a launch in July.

The satellite will extend Avanti's coverage to Africa, Caucasia and the Middle East.

"Our products are selling well in the higher value-added application markets in Europe, and demand for the imminent HYLAS 2 satellite is very high," said Chief Executive David Williams.

"With HYLAS 3 included, 80% of our capacity will serve emerging markets which offer high growth potential."

The company hopes to launch HYLAS 3 in partnership with European Space Agency in 2015, aiming to provide further capacity in the EMEA region.