Shin Satellite Plc’s profit more than doubled to 582.4 million Thai bhat ($14.2 million) in the second quarter 2005, compared to a profit of 248.9 million bhat ($6.1 million) in the same period in 2004, Shin Satellite reported Aug. 8.

Revenue was 2.8 billion bhat ($68.1 million) in the second quarter 2005, bolstered by an insurance claim payment of 1.1 billion bhat ($26.8 million), Shin Satellite reported in a filing with the Stock Exchange of Thailand. In the second quarter 2004, revenue was 1.3 billion bhat ($31.6 million).

Shin Satellite’s IPStar satellite remains on schedule for an Aug. 11 launch aboard an Arianespace Ariane 5 rocket following a delay of more than a month due to technical problems. The spacecraft, built by Space Systems/Loral, is designed to provide business and commercial customers throughout Asia, Australia and New Zealand with various levels of Internet access services.