Avanti Communications Group Plc Trading Update (0349K)
04 July 2017 - 5:00PM
UK Regulatory
TIDMAVN
RNS Number : 0349K
Avanti Communications Group Plc
04 July 2017
Avanti Communications Group plc
Trading Update
Avanti Communications Group plc, a leading provider of satellite
data communications services in Europe, the Middle East and Africa
(EMEA), announces a trading update for the financial year ended
June 30(th) 2017.
Revenues for the fourth quarter rose to in excess of $16 million
resulting in total sales for the year of approximately $62 million.
As indicated in the Company's Q3 statement announced on 31 May
2017, a number of projects to sell spectrum are progressing well
but have not closed in time to impact the final quarter.
In addition, Avanti announces today the award of a new 3 year
contract worth up to $21 million to deploy several hundred services
to government sites across Africa with an existing government
customer. This, in addition to recent announcements of Mobility, 5G
and broadband orders and a strengthened balance sheet creates a
positive outlook for the new financial year.
This announcement contains inside information.
--ENDS--
For further information please contact:
Avanti: Nigel Fox / David Williams +44 (0) 207 749 1600
Montfort: Nick Miles / James Olley, +44 (0)203 770 7909
Redleaf: Lara Pyliotis, +44 (0)207 382 4763
Cenkos Securities: Max Hartley (Nomad) / Julian Morse, +44
(0)207 397 8900
Notes to Editors
About Avanti Communications
Avanti connects people wherever they are - in their homes,
businesses, in government and on mobiles. Through the HYLAS
satellite fleet and more than 180 partners in 118 countries, the
network provides ubiquitous internet service to a quarter of the
world's population. Avanti delivers the level of quality and
flexibility that the most demanding telecoms customers in the world
seek.
Avanti is the first mover in high throughput satellite data
communications in EMEA. It has rights to orbital slots and Ka-band
spectrum in perpetuity that covers an end market of over 1.7bn
people.
The Group has invested $1.2bn in a network that incorporates
satellites, ground stations, datacentres and a fibre ring.
Avanti has a unique Cloud based customer interface that is
protected by patented technology.
Avanti Communications is listed in London on AIM (AVN:LSE).
www.avantiplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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