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
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the USMedium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.
