Shares in the company jumped more than five percent as the company, which provides communications to ships, aircraft and remote locations, posted its full-year results. Inmarsat in-flight

Revenue increased by 5.3 percent to $1.46bn in 2018, however, profit after tax was down 32.3 percent to $125m. Earnings were up 4.2 percent, from $739.3m to $770.1m in 2018 after increasing 14.6 percent in the fourth quarter of last year.

Aviation revenue was up 40 percent to $256.1m from $181.8m driven by the company’s global GX broadband offering. Within the company’s aviation sector, in-flight connectivity revenues more than doubled to $101.3m.

Chief executive Rupert Pearce said: “Inmarsat delivered consistent growth in 2018, building on our return to growth established in 2017.

“I am particularly pleased by the 85 percent revenue growth in GX services and a doubling of our in-flight connectivity revenues, both of which augurs well for the future.

• READ MORE: Airlines with Inflight WiFi

“We remain focused on building and defending substantial market share in our target markets, supported by our diversified product portfolio and leading-edge networks. This will ensure we are able to fully capitalize on both the immediate and longer-term growth opportunities in these markets.

“Supported by a tightly controlled cost base and an infrastructure capital investment programme which we are confident will meaningfully and sustainably moderate from 2021, we expect to generate sustained free cash flow growth over the medium to long term.” Inmarsat in-flight

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