Date of Publication of Preliminary Results and Trading Update
Avanti Communications Group plc (“Avanti”) (AIM: AVN.L) announces that it expects to publish its preliminary results on Monday September 15th.
Revenues are expected to be in line with market expectations in the range of $64m – $65m. However, PBT will be lower than consensus with approximately half of the variance resulting from bond refinancing costs of $7m and the balance attributed to exchange rate changes, year end provisioning and set up costs on large new projects.
With a cash balance of $195m at year end, Avanti is well positioned for 2015 and well financed to proceed with the construction of HYLAS 4, due for launch in 2017.
For further information please contact:
Avanti Communications Group Plc
Tel: +44 (0) 20 7749 1600
David Williams, Chief Executive
Nigel Fox, Finance Director
Cenkos Securities plc
Tel: +44 (0) 20 7397 8900
Max Hartley (Nomad)/Julian Morse
Jefferies Hoare Govett
Tel: +44 (0) 20 7029 8000
Tel: +44 (0) 20 7353 4200
About Avanti Communications
- Avanti Communications is a carriers’ carrier, selling wholesale data telecoms to service providers which use them to create networks for enterprise, carrier, government and consumer users.
- Avanti Communications’ network consists of:-
- two high throughput satellites in orbit, called HYLAS 1 and HYLAS 2; a multiband satellite called Artemis plus a fourth satellite in construction called HYLAS 3; and a fifth called HYLAS 4
- an international fibre network connecting data centres in several countries
- Avanti Communications has GEO satellite network spectrum filings in the ITU Master Register for Ka band at 33.5° West and 31.0° East and for Ka, Ku, S and L-band at 21.5° East.
- Avanti Communications serves customers in Europe, Middle East and Africa.
- Visit: www.avantiplc.com