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.
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
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
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
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Higher rates are disappearing – should you fix your savings?
Fixed savings rates have dropped to their lowest levels in over a year. Should you fix your savings now ahead of a potential base rate cut in November?
By Katie Williams Published
-
Nine million people fall victim to financial scams, says Citizens Advice
The charity says that around one in five people across the UK have been caught out by a finance scam in the past year - here is how to protect your money
By Chris Newlands Published