Confidence in London-based specialist satellite operator Avanti Communications has again been dented. October 17^th and 18^th saw significant movement in its share (1.46 million on 17^th and 790,000 on 18^th, when the normal trading would be 40,000-60,000 per day).

October 19^th saw Avanti’s share price hit an all-time low of just 6.51 pence (£0.0651) and a mid-point of 6.55 pence, representing a 4.8 per cent fall on the day.

Avanti’s fall from grace is dramatic. Back in 2011 a share was worth £7.00. Still bound by massive debts (some £490 million) and now with a market capitalization of barely £10 million, the company’s future rather depends on successful selling of capacity on two upcoming satellites, Hylas 4 and Hylas 3.

Hylas 4 should launch next Spring aboard an Ariane 5 rocket from French Guiana.

Avanti has a somewhat flexible attitude to releasing its half-year and full year trading numbers. For example, its 2017/1H results were issued on Feb 28^th. Therefore its ‘follow-on’ 6 months numbers or trading update are some 3 months overdue. Sources at Avanti say their latest numbers should appear before the end of November.

Categories: Articles, Business, DTH/Satellite, Results