Avanti Communications Group Revenues Soar 68%

LONDON -- Avanti Communications Group (LSE: AVN  ) put on 13.50 pence to reach 265 pence this morning, a 5.4% increase on last night's closing price of 251.50 pence, following the release of its unaudited interim results.

Avanti confirmed that its second satellite, HYLAS 2, launched on Aug. 2 and is now fully operational, extending the company's coverage to Africa, Caucasia, and the Middle East. Avanti has been "attracting major telco customers" as a result, with five large multinational telecom companies signing contracts, showing "increasing mainstream adoption of Avanti's products."

Chairman John Brackenbury, CBE, commented:

Sales momentum continues to build very well. We operate in rapidly developing markets in Africa and the Middle East, which are showing very strong demand for our market-beating services, with several HYLAS 2 beams already fully sold.

Avanti's customers value the resilience, quality, and flexibility of our managed services. We are winning high-value-added business at expected prices in Europe as well as emerging markets.�Technical milestones are now behind us and our forward visibility continues to improve.�2013 should show commercial transformation.

The satellite operator also expects to become cash flow-positive in the second half of the current financial year, boosted by a 68% increase in revenues to 8.6 million pounds, up from 5.1 million pounds in December 2011.�

Avanti reported a backlog of orders�amounting to 290 million pounds at the end of the six-month period, a 60% increase on the same stage last year. This helped the company hit cash at year's end of 50.7 million pounds.�

It's up to investors to decide whether the shares are now�in value territory. Indeed, at the end of 2010, they reached as high as 735 pence -- so at their current price,�could they rocket from here?

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