Small but beautiful: Government deal lifts satellite internet group Avanti
Published Date:
02 October 2008
A CONTRACT with the Scottish Government has helped to narrow losses at Avanti Communications.
Avanti won the £3.3 million contract in June to supply broadband internet access via satellite links to remote areas.
The contract covers more than 3,500 homes and businesses and will be installed and managed by Remote Data Services, Avanti's Scottish partner, which is based in Aberdeen and Blair Atholl, in Perthshire.
Avanti plans to launch Hylas, its own satellite, next year but currently rents capacity supplied by other satellites.
In the year to 30 June, revenues rose by 127 per cent to £5.9m, while losses narrowed to 1.4m from £3.1m in the previous year.
Avanti, which was admitted to Aim in April 2007, has a market cap of about £54m.
John Brackenbury, Avanti's chairman, said: "During the year our market has grown and we have been successful in proving that we can sell our products into it.
"In the US, a similar business model to ours has already been proven with two broadband satellites launched, one of which is almost full in its second year of operation."
The full article contains 196 words and appears in The Scotsman newspaper.
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Last Updated:
01 October 2008 8:53 PM
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Source:
The Scotsman
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Location:
Edinburgh
