Avanti Communications Group Plc Q1 2017 Trading Update (3483S)
December 20 2016 - 3:34AM
UK Regulatory
TIDMAVN
RNS Number : 3483S
Avanti Communications Group Plc
20 December 2016
This announcement contains Inside Information
For immediate release
20 December 2016
Avanti Communications Group PLC
Q1 2017 Trading Update
Q1 2017 Trading Update
Following the release today of the Group's audited Preliminary
Announcement and $242 million Refinancing and Completion of
Strategic Review Announcement, the Group announces its first
quarter trading update for financial year 2017. Revenue for the
quarter was $18.0m and EBITDA was ($5.0m). The period end cash
balance was $43.1m and the period end backlog was $276m.
Utilisation of the existing fleet was in the 35% to 40% range,
including the full pro-forma impact of significant new customer
wins in the period.
Enquiries
Avanti David Williams, Nigel Fox
Tel: +44 20 7749 1600
------------------------ ----------------------------
Montfort Communications Nick Miles, James Olley
(PR) Tel: +44 203 770 7909
------------------------ ----------------------------
Cenkos Securities Max Hartley, Nicholas Wells
(Nomad) Tel: +44 207 397 8900
------------------------ ----------------------------
Notes to editors
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, gateway earth stations, datacentres and a fibre
ring.
Avanti has a unique Cloud based customer interface that is
protected by patented technology.
The Group has three satellites in orbit and a further two fully
funded satellites under construction.
Avanti Communications is listed in London on AIM (AVN:LSE).
www.avantiplc.com
News type:
RNS
Date:
20 December 2016
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTTMBLTMBTTMLF
(END) Dow Jones Newswires
December 20, 2016 04:34 ET (09:34 GMT)
Avanti Communications (LSE:AVN)
Historical Stock Chart
From Apr 2024 to May 2024
Avanti Communications (LSE:AVN)
Historical Stock Chart
From May 2023 to May 2024