London-based specialist satellite operator Avanti Communications says it has seen a “significant new order intake” during the first-half of its current financial year, particularly in terms of Broadband and Government sectors.
Avanti says it expects to be able to show strong growth in continuing business revenue in Q2, which it said underpins its expectation for meeting its full year target of around 50 per cent growth compared to recurring revenue of $60 million in the previous year. “This strong trajectory revenue growth supports our fully funded business plan to launch HYLAS 3 and 4 in 2017,” Avanti said in a statement.
Avanti is also appointing Enrico Leonardi as its Global Sales Director. Leonardi’s early career was with Ericsson, initially in technical roles and then progressing through business development and sales to be a General Manager in the Middle East. He was then Head of Regional Sales Middle East and Africa at Nokia. For the last three years Enrico has been VP Sales Middle East and Africa for Swiss-based AGT International.
Avanti’s share price, which has been somewhat volatile over the past month, picked up with the news, rising 5.45 per cent by mid-morning December 17th to 159.76p on the London AIM exchange.