Hispasat posts strong first-quarter

Spanish satellite operator Hispasat has posted strong quarterly results, with a 55% year-on-year increase in net profits on revenue growth of 10.9%.

Hispasat turned in net profit of €29.5m on revenue of €75.5m for its first fiscal quarter ending June 30. EBITDA was €60.4m, up 8%.

The operator said it had managed to grow profit through revenue growth and efficient management of operating expenses. Some 67.2% of space capacity revenue came from the Spanish division, with the balance coming from Latin America.