LONDON, Aug 4 (Reuters)– British satellite driver Inmarsat reported an increase in earnings in the 2nd quarter, greater than turning around a dip in the initial quarter, as its clients utilized its broadband terminals to enhance effectiveness in challenging delivery and power markets.

The business reported a 6 percent surge in second-quarter earnings to $330.4 million and a 22 percent surge in core revenues to $202.2 million on Thursday, and repeated its target for full-year earnings.

“It a very solid performance, despite the market being quite challenging,” Chief Executive Rupert Pearce stated in a meeting on Thursday.

“Many of our markets are in recession, but ironically there’s some counter-cyclicality here because people are investing in communications to improve their efficiency and effectiveness, that’s certainly true in energy, it’s certainly true in maritime.”

Shares in Inmarsat, which have actually rotted considering that it reduced its full-year earnings projection variety by $50 million to $1.175-$ 1.250 billion in May, were trading up 1.6 percent at 793 dime by 0817 GMT. (Reporting by Paul Sandle; Editing by Mark Potter)

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