6th Jul 2015 07:47
LONDON (Alliance News) - Satellite data communications company Avanti Communications Group PLC on Monday said its full-year revenue is set to rise and said trading remained in line with its expectations in the fourth quarter.
Avanti said it expects revenue for the year to the end of June to be at least USD80 million, up from USD65.6 million a year earlier. The company said its continuing business revenue growth, at constant currencies, in the year was around 50%.
As anticipated, Avanti said its recurring revenue growth was boosted by non-recurring revenue secured in the fourth quarter.
It will publish its full-year results on September 16.
"We have continued to develop Avanti's growth platform in the fourth quarter. Further significant transactions are pending, giving us an expectation of ongoing momentum in the first half of the new financial next year," said David Williams, Avanti's chief executive.
Avanti shares were up 2.2% to 199.25 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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