London satellite communications firm reveals financial results 'in line' with budget

London-headquartered Avanti Communications Group plc has issued its results for the six months to June 30 2019.

Avanti provides satellite data communication services to companies in Europe, Africa and the Middle East.

The company’s EBITDA (earnings before interest, taxes, depreciation and amortization) was said to be in line with its budget, with further material growth expected for 2020.

Kyle Whitehill, Avanti’s CEO, said: “The steady progress in the first half of 2019 has set the foundations for the remainder of the year. We expect to see a material contribution from government bandwidth opportunities in the second half of 2019.”

Avanti’s backlog increased 80 per cent to $156.4m (around £127m), with a capacity sold to Turksat for $87m (around £70m).

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