Inmarsat on track for full year

Satellite communications services firm Inmarsat said trading in the third quarter remained consistent with trends in the second quarter and in line with full year expectations.

Inmarsat, which owns and operates a global satellite network and offers mobile satellite communications services for users in the maritime, land and aviation sectors, said progress continued across all of its businesses.

Its global's maritime business continued to see strong take up of FleetBroadband, with over 2,100 net additions to the base of active terminals bringing a total installed base of over 32,000 at the end of the quarter.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues 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

Sign up

Also during the third quarter, sales of XpressLink were encouraging after a number of new contracts were signed.

The performance across other business sectors and the Inmarsat Solutions business has been positive, it explained in a company update, and consistent with recently reported revenue trends.

On Monday Inmarsat confirmed that it has signed a long-term alliance with Cisco as well as a joint agreement with US technology firm Honeywell to provide business aviation satellite services.

Chief Executive Officer Rupert Pearce said: "Trading during the third quarter has been consistent with trends reported for the second quarter and with our guidance for the full year."

CJ