Avanti Communications Group PLC (“Avanti” or “the Group”), a leading provider of satellite data communications services in Europe, the Middle East and Africa, announces its trading update for the three months ended 30 September 2019.
Revenue for the quarter was $17.1m, including bandwidth revenue of $15.2m. EBITDA for the quarter, before one-off restructuring costs of $0.7m, was $0.5m. The period end cash balance was $25.9m and the period end backlog was $141.0m.
Trading remains on target against internal plans. Progress continues with the cost optimisation project and the Company is well placed to achieve the previously announced full year savings which should result in positive EBITDA for the full year.
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