Inmarsat Profits Soar on Maritime Demand
Wednesday, August 24, 2005
Satellite operator Inmarsat pushed up profits as its first results as a listed company benefited from strong demand among maritime users. The group, which has 10 satellites providing voice and data services, revealed a four percent hike in first-half revenues to $253.3 million with underlying earnings ahead 11 percent at $171.6 million.
Inmarsat indicated that the maritime sector had been the main driver of its improvement with growth in data revenues more than offsetting ongoing decline in voice. Inmarsat growth prospects are strong following the commercial launch of the first of its broadband-enabled Inmarsat-4 satellites in May.