Satellite firm lifted by the US

BRITISH satellite firm Inmarsat saw revenues climb 8pc thanks to its booming government contracts business.

The FTSE 250 company yesterday said group revenues were up almost 8pc for the three months to June, to £271m.

This was driven by a 41pc rise in government contracts which were worth £77m overall – up from £55m the previous year.

But bosses said the long-term outlook was difficult to predict and in many respects would be tied to the fortunes of the aviation sector, where it provides in-flight connectivity services, as well as its government customers.

Chief executive Rupert Pearce said: ‘We have sustained our business despite tough markets.’