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Inmarsat Increases Earnings in 2009

Middle East : 10 March 2010

International mobile satellite communications services provider, Inmarsat, announced a healthy increase of 11.9% in net profits from 531.2 to 594.2 million US dollars in 2009.

Inmarsat’s revenues increased by 4.2% from 996.7 billion US dollars to 1.03 billion US dollars. Earnings per share climbed 26.7% from 0.30 to 0.38 US dollar. The full year dividend grew by 10%.

The company announced final dividend which will bring total dividends to 33.36 cents for the full year – an increase of 10% as compared to the last year.

Inmarsat’s Chairman and Chief Executive Officer, Andrew Sukawaty said that 2009 was a year in which they changed their distribution arrangements, satellite network and service portfolio providing them with a strong base to retain their market leadership position.

They are eyeing 2010 with optimism, hoping to enhance growth opportunities as well as capitalise on growth momentum. The main factors that made this growth possible were the transformation of broadband global area network services and the improvement of low data rate services in collaboration with SkyWave. The growth was reinforced by increasing the subscriber base, migration from older services and successful partnership with SkyWave.

Andrew Reid, Staff Writer, Gulf Jobs Market News
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