Profits at SES Global grew 9 million euros ($11.6 million) in the 2005 first quarter despite revenue remaining flat, the company reported May 9.

SES earned 84 million euros ($108.8 million) in the 2005 first quarter, up from a profit of 75 million euros ($97.2 million) in the 2004 first quarter. Revenue remained unchanged at 290 million euros ($375.8 million) as organic growth and new revenue from the acquisitions of Verestar and DPC were offset by the weaker U.S. dollar.

In a separate announcement, SES unveiled plans to buy back up to 65 million shares and notes. SES shareholders approved a plan May 6 for the repurchase of up to 10 percent of SES stock by November 2006.