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Business News

Inmarsat profits rise 60 per cent

The satellite company Inmarsat has bucked the economic disintegration in the global markets to post an almost 60 per cent rise in profits in the three months to the end of September.

Inmarsat yesterday announced a rise in profit after tax from $23.7m in the third quarter 2007, to $37.6m this year. Revenues were also up 16.4 per cent to $162.5m

Andrew Sukawaty, the chairman and chief executive of the group said: “We have seen no impact of global economic weakness in the usage and take up of our service,” adding that the full year revenues would be “well ahead” of the group’s target range.