Inmarsat revenue up 15%

UK satellite operator Inmarsat has reported a 23 per cent rise in first-quarter core earnings, boosted by growth in its maritime unit that eased concerns about its performance after a badly received statement in March. The provider of telecommunications to ships, aircraft and military and aid services in remote areas said its core earnings rose to $204.1 million on revenue up 15 per cent at $323.9 million.

In the company’s core maritime business, revenue rose 3.2 per cent to $89 million and the company said it still expected to achieve growth of between 2 and 4 per cent this year.

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