Business growth and profit news

Updated profit guidance from Beam Communications Holdings

Beam Communications Holdings Ltd, a satellite communications company, has announced that it expects to deliver EBITDA of approximately $2 million for the first half of fiscal year 23 (H1FY23). This is a significant improvement over the company’s previous guidance of $2.1 million for the entire fiscal year 23 (FY23).

The company attributes this robust EBITDA growth to strong sales of its Certus devices and continued growth in its underlying businesses, including ZOLEO. The positive revenue and earnings momentum is expected to continue throughout FY23.

In addition to the strong EBITDA performance, Beam also expects to post revenues of around $20 million for H1FY23, compared to $12.5 million in the previous corresponding period. This represents a significant increase in revenue for the company.

Overall, Beam’s strong performance in the first half of FY23 is a positive sign for the company’s future prospects. The results, which are subject to audit review, demonstrate the company’s ability to achieve growth and success in the current market.

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