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Avanti Getting Lift Off

Avanti Comms Group AVN has issued a further update prior to the change of its year end to the end of December. A unique Master Distribution Agreement has been concluded with with Comsat Inc, USA.The seven-year contract enables Avanti immediate access to key growth markets to offer its HTS network. Strong growth in bandwidth revenues is expected in the final quarter of 2018 having regard to current activity levels. In September Avanti signed a seven year wholesale capacity lease agreement, with a major international service provider  worth US$ 84 million  The consideration will be paid in quarterly instalments at a rate of US$ 12 million per annum and which is expected to commence in the third quarter of next year. Arbitration proceedings against the Government of Indonesia were successfully concluded, producing receipts of $20.1m. The recently signed contracts underpin significant growth in core bandwidth revenue throughout the whole of next year.

Scholium Group plc SCHO Group profit for the half year to the 30th September grew by 12.2% and margins rose by 36%. Mayfair Philatelics Limited incurred a loss as expected, but will improve its revenues in the second half due to it holding three of its four auctions a year in the second six months. Improved trading is expected in the second half of the financial year.

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