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Inmarsat reports 9.5 pct rise in earnings, says outlook unclear
March 8, 2017 / 7:28 AM / 9 months ago

Inmarsat reports 9.5 pct rise in earnings, says outlook unclear

LONDON, March 8 (Reuters) - British satellite company Inmarsat said stronger demand from governments and aviation customers offset weakness in the maritime sector last year, resulting in a 9.5 percent rise in core earnings to $795 million.

The company, which supplies communications to shipping, aircraft and remote locations, said the outlook for the next two years was difficult to predict, though it said it expected revenue of $1.2 billion to $1.3 billion this year and $1.3 billion to $1.5 billion next, in line with market expectations.

It said it expected growth to come from its new global network but it warned that its markets “continued to be challenging, with sustained pressure on customer expenditure, increasing competition and the arrival of new satellite capacity in some of our markets”. (Reporting by Paul Sandle; editing by David Clarke)

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