Avanti Comms expects 'strong growth' in bandwidth revenues

British satellite operator Avanti Communications expects strong growth in bandwidth revenues in the final quarter of its trading year following recently signed contracts.

Avanti, which secured a $10m contract with ViaSat and a seven-year master distribution agreement with Comsat during the period, said it expects the wins to support "significant growth in core bandwidth revenue throughout 2019".

When discussing its third-quarter performance, Avanti revealed that revenues had hit $10.8m, leading to an EBITDA loss of $10.6m for the period.

Looking forward, Avanti said: "The current activity levels and pipeline gives us confidence that we will see strong growth in bandwidth revenues in the final quarter of 2018."

"Furthermore, the recently signed contracts underpin significant growth in core bandwidth revenue throughout 2019."

As of 0940 GMT, Avanti shares had shot up 13.62% to 3.29p.