Immarsat Plc (ISAT.L) Friday released the interim results for the six months ended 30 June 2012, reporting a drop in profit for the period, despite marginal increase in total revenues, negatively impacted by rise in operating expenses, depreciation and amortization expenses.
The leading provider of global mobile satellite communications services reported net profit for the six-month period of $174.8 million, 8.6 percent lower than net profit of $191.3 million reported for the corresponding six-month period in the previous year.
Total net operating costs for the half-year period increased 18.3 percent to $302.8 million from $256.0 million reported for the first half of 2011.
Depreciation and amortization expenses increased 1.9 percent to $122.5 million from $120.2 million reported for the six-month period ended 30 June 2011.
Total Revenue for the first half of 2012 increased by 0.20 percent to $684.2 million from $682.9 million reported for the same period in the previous year.
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by RTT Staff Writer
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