Hispasat, the Spanish-based satellite operator, has almost doubled its profits in 2005, as well as reduce its net debt significantly in 2005. These were two of the highlights of its latest set of full year results, which have been announced this week.

In its latest results, the operator saw a net profit of 9.8 million euros ($12.1 million) in 2005. This represents a healthy increase compared to 2004 when profits were around 5.4 million euros ($6.7 million). There are other encouraging signs in Hispasat’s results. The operator has announced that in the financial year, it reduced net debt by 63.5 million euros ($78.7 million) in 2005. Hispasat also saw strong revenue increases in 2005. Its full year revenues were 99.6 million euros ($123.4 million), an increase of close to 20 percent.

The operator has been boosted by the strong performance of the Amazonas satellite, its flagship Latin America satellite, which has an occupation rate of 66 percent during its first year of service.