Buoyant Maritime unit boosts Inmarsat
First quarter earnings at satellite communications firm Inmarsat were up a touch after strong demand at its maritime unit.
First quarter earnings at satellite communications firm Inmarsat were up a touch after strong demand at its maritime unit.
For the three months ended 31 March 2012 total EBITDA rose 1% to $205m while total revenue increased 6% to $237m. Maritime revenue was up 7.2% at $95.4m.
Chief executive officer Rupert Pearce said: "While economic conditions in shipping remain challenging, we remain comfortable with the customer usage trends we are seeing and have a positive outlook for our maritime business in 2012."
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
"Strong subscriber growth of over 10% in the first quarter continues to underpin our expectations for improved results in 2012."
Inmarsat said growth in its maritime was underpinned by the elimination of volume discounts previously available for older services as it encourages customers to switch to its FleetBroadband service.
CJ
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
RICS: homebuyers are returning after stamp duty shock
The housing market has been subdued since stamp duty thresholds dropped in April, but there are signs of a recovery
-
Reducing cash ISA limit will make lending difficult and expensive, warn providers
An open letter from the Building Societies Association has urged the chancellor to keep the cash ISA limit at £20,000. We look at whether a smaller cash ISA allowance will make it harder to get a mortgage or loan