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30 Nov 2018 | 07:27

Avanti Communications touts 'strong' revenue growth amid contract wins

Satellite data services group Avanti Communications said Friday recent contract wins had bolstered its pipeline, keeping the company on track to deliver strong revenue growth in both the final quarter of the year and in 2019. 'The current activity levels and pipeline gives us confidence that we will see strong growth in bandwidth revenues in the final quarter of 2018. Furthermore, the recently signed contracts underpin significant growth in core bandwidth revenue throughout 2019,' Avanti said. Revenue for the three months ended 30 September was $10.8m, while the earnings (EBITDA) loss was $10.6m.

During the quarter ended September and the post-period end, the company won several contracts including a seven-year wholesale capacity agreement worth $84 million; a $10m contract signed with Viasat for HYLAS 4 capacity and signed a master distribution agreement agreed with Comsat, gaining access to US Government. The company also won a settlement of $20.1m against the Government of Indonesia in early August.

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