Inmarsat CEO: ‘We Have a Healthy Present and Future’
[Satellite Today 08-08-08] While talk surrounding Inmarsat centers on whether Harbinger Capital Partners Funds, which owns 28 percent of Inmarsat, will look to acquire the mobile satellite services company and combine it with SkyTerra Communications, Inmarsat continues to focus on growing its business rather than any potential strategic combinations.
Inmarsat reported revenues of $311.6 million for the first half of 2008, an increase of nearly 10 percent compared to the same period in 2007, while operating profits were $133.1 million, an increase of $15 million.
“We have a very solid franchise,” Andy Sukawaty, Inmarsat CEO, told Satellite Today. “This quarter demonstrates that as an independent company we have a very healthy present and future. We are profitable. We fund our own growth and we provide very healthy returns for shareholders based on dividend growth, cash flow growth and profitability growth. We intend to continue to do that.”
An interview with Andy Sukawaty can be found in the Satellite News premium section of SatelliteToday.com. For more information about subscribing to Access Intelligence’s premium content, please go to http://www.satellitetoday.com/VIP/.