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.

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

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