LONDON (dpa-AFX) - Inmarsat plc (ISAT.L), a provider of mobile satellite communications services, reported Thursday that its third-quarter profit after tax surged 102 percent to $227.7 million from last year's $112.7 million.
Adjusted profit after tax was $46.5 million, compared to $56.3 million last year.
EBITDA for the quarter grew 6.8 percent to $206.5 million from $193.3 million a year ago. Group EBITDA excluding Ligado increased 7.9% to $173.6 million reflecting higher revenues, particularly from Aviation, and lower costs.
Group revenue increased 3.7 percent to $369.3 million from $356.2 million a year ago.
Further, the company said its updated 2018 guidance Revenue and EBITDA for FY 2018, ex Ligado, are expected to be at least in line with current market consensus.
Revenue consensus is $1.325 billion, and EBITDA consensus is $610 million.
Medium term guidance for the Group remains unchanged. The company projects a target of mid-single digit percentage revenue growth on average over the next five years, with EBITDA and free cash flow generation improving steadily.
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