Large increase in pre-tax profit posted by Inmarsat

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A large increase in the pre-tax profits of the third quarter was posted by Inmarsat, owing to the fact that a significant loss of impairment is absent. The report further stated that the circumstantial trading conditions observed throughout the quarter are predicted to continue throughout the remainder of 2014.

For the quarter ending 30th September the satellite operator saw a pre-tax profit of $104.1 million posted, an increase of $23.5 million compared to the equivalent period last year. Losses from impairment dropped from $77.0 million to approximately $100,000 and the overall revenues reduced from $306.9 million to $300.6 million. The costs of operating by Inmarsat are predicted to be marginally less than previous forecasts, at the $450 million mark. The company is maintaining its long term forecasts, especially income streams from globalised mobile satellite service provisions.

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