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Satellite giant SES Global posts 28.6-pct jump in 1st half profit
Luxembourg, Aug 7, 2006 SES Global, the biggest private satellite operator in the world, posted Monday a 28.6-percent jump in net profit in the first half of the year and forecast firm revenue growth for the whole 2006. The Luxembourg-based company said net profit reached 215.6 million euros (277.2 million dollars) in the first six months of the year compared with 167.7 million euros in the same period last year. At the same time, revenues rose 16.6 percent to 710.5 million euros from 609.2 million euros as the group benefitted from "dynamic demand for satellite capacity in the main world markets and growth in services," it said. Calculated on a constant currency basis and excluding the impact of the acquisition of New Skies Satellites in March, revenues increased 8.1 percent to 657.0 million euros. The company said that it expected total revenues to grow "by more than 20 percent" this year compared to last year thanks to the contribution of the acquisition of New Skies and ND Satcom, a satellite broadband service which SES acquired last month. Meanwhile, core profits, measured as earnings before interest, taxes, depreciation and amortisation rose 14.1 percent to 499.5 million euros from 437.6 million euros from the first hald of 2005. SES Global chief executive Romain Bausch said: "SES New Skies' performance is ahead of plan and progress in the integration makes us confident that we should achieve the synergy target." "We also continued to grow organically our core satellite infrastructure business, as well as our services activities, at a high single-digit rate," Bausch also said. "This growth came from increased demand for satellite capacity and services in the media, enterprise and government segments in our main markets of Europe and North America," he added. Community Email This Article Comment On This Article Related Links All about the technology of space and more
Students in world technology contest strive for a healthier world
Agra, India, Aug 7, 2006 University students representing 42 countries in a Microsoft technology contest were Monday showcasing innovations which they hope will help people live more healthily. |
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