May 7, 2014 / 6:25 AM / 3 years ago

Inmarsat makes strong start to year with 7 pct rise in Q1 earnings

LONDON, May 7 (Reuters) - Inmarsat, the company whose satellites tracked the final route of missing flight MH370, said it made a strong start to the year, with adjusted core earnings for its main business rising 6.8 percent in the first quarter.

The group, which provides communications for shipping, aircraft and land operations worldwide, posted earnings before tax, interest, depreciation and amortisation (EBITDA) of $164.7 million on Wednesday, while total revenue rose 9.9 percent to$344.7 million.

The British group said it remained on track to launch two further satellites this year to complete its new Global Express network.

The company’s shares dipped last week on concerns that it would be affected by sanctions against its partner Russia, which builds the rockets that carries them into orbit. (Reporting by Paul Sandle; editing by Kate Holton)

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