London-based speciality satellite operator Avanti Communications issued a trading update early on July 4^th, and following on from its July 3^rd confirmation of its recent debt and financial restructuring.

Avanti says that revenues for the full financial year were “about $62 million”, and adds that “a number of projects to sell spectrum are progressing well but have not closed in time to impact the final quarter.”

Avanti added that it had won a new three-year contract worth up to $21 million to deploy several hundred services to government sites across Africa with an existing government customer. “This, in addition to recent announcements of Mobility, 5G and broadband orders and a strengthened balance sheet creates a positive outlook for the new financial year,” said the statement.

However, the revenue position is well down on that of 2016 ($82.8m) and 2015 ($85.2m).

Avanti does not, in its release, break out its losses for the year, nor identify the operational cash in hand, nor its contracted backlog, nor fleet utilisation.

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