NewSat chairman bullish on prospects for 2010

NewSat chairman bullish on prospects for 2010

NewSat (ASX:NWT) chairman Richard Green has announced that the company is well placed to take advantage of the growing worldwide satellite market in 2010.

The company, which reported a 21% increase in revenue to $2.03 million in 1H10, said it has a satellite footprint covering 75% of the world’s surface, he said.

The worldwide satellite market is now worth $80 billion, and is growing at an annual rate of 17%, Green added.

The company is on track to launch Australia’s first next-generation satellite, the Jabiru-1, by June 30.

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Tags TelecommunicationssatelliteNewSateconomic outlook

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