According to Inmarsat Plc., the company’s quarterly core earnings increased as a result of its maritime unit.
“Subscriber growth of over 10 percent in the first quarter continues to underpin our expectations for improved results in 2012,” said Rupert Pearce, Chief Executive.
This year’s first quarter proved beneficial for the mobile satellite company, with core earnings growing 1% to $205 million, while total revenue increased 10% to $355 million. The maritime unit also brought in an additional 7%, to $95.4 million.
“While economic conditions in shipping remain challenging, we remain comfortable with the customer usage trends we are seeing and have a positive outlook for our maritime business in 2012,” the company explained.
The company’s shares have gone up in value as well, reaching 454.5 pence.
Sorry, comments are closed for this post.