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Avanti to launch satellite

Avanti Communications, which plans to launch its first satellite in the final quarter of this year, has recruited 28 wholesale customers around Europe who will sell on broadband services.

The company, which already supplies some customers via leased satellite capacity, also welcomed expected moves in Britain – heralded by Lord Carter’s Digital Britain report last week – to ensure that broadband access at 2MB becomes available in the UK.

John Brackenbury, chairman, said the company expected to benefit from government initiatives in both the UK and Europe, where the European Commission last week announced further funding to help the 30 per cent of EU homes that have no access to high speed internet services.

Revenues for the first half to December 31 rose from £2.5m to £3.2m, while operating losses were flat at £1m. Foreign exchange gains of £4.6m from hedging activities helped the group to report pre-tax profits of £2.8m, compared with a previous loss of £400,000.

In Monday afternoon trading the shares were up 9½p at 168½p.

Источник: Financial Times

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