Avanti on track in 2012

14th May 2012 10:51

AIM-listed satellite operator Avanti Communications said its revenue was in line with house broker estimates for the financial year to 30 June 2012.The group said it had added £42.3m of backlog in the four months to the end of April. Backlog increased to £213m from the £181m reported at the of December, the firm said.Its pipeline of potential sales stands at £529m, excluding £170m options on HYLAS 2, the second of its satellites. Avanti said that during the period HYLAS 2 had successfully completed one of its last key technical milestones, thermal vacuum testing, and remained on target for a launch in July. The satellite will extend Avanti's coverage to Africa, Caucasia and the Middle East. "Our products are selling well in the higher value-added application markets in Europe, and demand for the imminent HYLAS 2 satellite is very high," said Chief Executive David Williams."With HYLAS 3 included, 80% of our capacity will serve emerging markets which offer high growth potential."The company hopes to launch HYLAS 3 in partnership with European Space Agency in 2015, aiming to provide further capacity in the EMEA region.