Inmarsat Q1 up 9.9%
May 7, 2014
Inmarsat, a provider of satellite communications for shipping, aircraft and land operations worldwide, posted adjusted earnings before tax, interest, depreciation and amortisation (EBITDA) of $164.7 million. Revenue rose 9.9 per cent to $344.7 million.
Inmarsat, whose satellites helped track the final route of missing flight MH370, said it made a strong start to the year, with adjusted core earnings for its main business rising 6.8 percent in the first quarter.
Chief Executive Rupert Pearce said the group had seen solid demand particularly from commercial shipping and aircraft, but normal business had been overshadowed by the search for the Malaysian airliner which lost contact with air traffic control on March 8th.