socialmedian: Market forces breaking news: Broadband demand drives up Inmarsat's profits

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Market forces breaking news: Broadband demand drives up Inmarsat's profits

Source: The Guardian

Nov 09, 2009

Summary

• Satellite operator says revenue from in-flight broadband services has risen by 10%
• Anglo American appoints Sir Philip Hampton
• Hiscox enjoys 'benign' quarter

With just hours to go until Kraft either launches a bid for Cadbury or walks away, there is a clutch of results from companies to keep us occcupied.

Satellite firm Inmarsat has posted a 33.5% jump in profits after tax, to $50.2m, thanks to growing demand for high-speed wireless services. Its SwiftBroadband arm, which provides satellite broadband connections to aeroplanes, grew its revenues by 10.1%:

SwiftBroadband usage levels are steadily increasing and we are pleased with the early stage development of this service. SwiftBroadband continues to see orders related to the introduction of in-flight cellular services on commercial airlines. In September, British Airways launched a London to New York service equipped with our SwiftBroadband service to support in-flight passenger services.

Elsewhere, engineering chain IMI has just rushed out its interim management statement early - as the results are much bett

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