Inmarsat on crest of a wave

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The Independent Online

The satellite company Inmarsat posted a 5 per cent rise in underlying third-quarter revenues yesterday, helped by the take-up of its broadband services by shipping customers globally.

The company, which provides communications to shipping, aircraft and remote land locations, said it added 2,128 FleetBroadband terminals in the quarter, taking its installed base to 32,000.

Inmarsat posted underlying earnings of $161m (£100m), down from $172m a year ago. Revenues were slightly higher than expected at $322m.