12th Nov 2015 10:44
LONDON (Alliance News) - Avanti Communications Group PLC, a satellite data communications services provider, on Thursday said that revenue amounted to USD13.7 million in the first quarter of its financial year, representing sequential growth of 23% over the previous quarter on a constant currency continuing business basis.
Avanti's financial year ends on June 30, 2016.
The company said that strong growth is expected to continue throughout the remainder of 2016.
"Current trading remains strong. Management expects the growth rate in constant currency revenues before the effect of non-recurring business to continue, as existing customers increase their usage and distribution through new customers grows. There are a range of substantial opportunities in the pipeline that could further augment the core growth levels," Avanti said in a statement.
Shares in Avanti were down 0.1% at 237.49 pence on Thursday morning.
By Samuel Agini; [email protected]; @samuelagini
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