The £8.2bn stealth tax every family in Britain is paying: How we see more sneakily pocketed from our insurance bills than hated inheritance tax
Why it's time for savers to consider snapping up a 5% two-year fix: SYLVIA MORRIS on locking in now
Stick or twist? Santander's top 5.2% savings account gets a rate cut just six months in - is it time to hunt down a better deal?
DO install an electric car charging point... but NEVER get rid of your bath: Home improvements that really will add value - and the projects to avoid
How to deal with debt in a divorce: What are you still on the hook for, how about the mortgage, and can you protect your credit rating?
I spent three days in hospital in Lanzarote having a pacemaker fitted - but my travel insurer won't pay the £8,542 bill: SALLY SORTS IT
'We don't want your electric cars': Half of motor dealers are reluctant to buy used EVs - here's why...
Empty properties will now pay double council tax after a year as part of second home crackdown
BUSINESS LIVE: Recession may be over as UK economy returns to growth; Metro Bank losses narrow; Gym Group plots more sites
Metro Bank axes 1,000 jobs as losses narrow after lender was revived by last minute capital injection last year
Balfour Beatty profits sink 18% but strong UK and Hong Kong sales drive infrastructure giant's share price higher
Cuts to North Sea oil and gas investment weigh on Britain's production sector as Chancellor extends windfall tax to 2029
The Gym Group eyes 50 new site openings as firm flexes 'next chapter' growth plans
Morrisons posts £1bn loss as debt payments soar following private equity takeover
I'm 69 with £60,000 left to repay on my interest-only mortgage: What are my options? DAVID HOLLINGWORTH replies
My friend says I can safely ignore parking fine as it's not from the council. Is that true? DEAN DUNHAM replies
Should Nationwide really be using members' money to buy another bank, asks ALEX BRUMMER
Would you make more money with a buy-to-let or holiday let? As a tax raid hits landlords, we reveal which will give YOU a bigger retirement nest egg
Will the attack on holiday lets and tax cut for landlords to sell really help renters and first-time buyers?
Mortgage rates on the rise: Santander, NatWest and Halifax are latest lenders to announce hikes
The challenge of workless millions that shames Britain... as even Labour promises a benefits crackdown
UK wage slowdown bolsters hopes of interest rate cuts... but battle against inflation in US suffers shock setback
Britons resist a five-day office week - with over half willing to take a pay cut to work more from home
Can't wait for a British Isa? We reveal the best ideas from top experts on homegrown funds and shares worth a look right now...

Inmarsat hit by shipping slump

By Daily Mail Reporter
Updated: 05:48 EDT, 8 March 2011

View
comments

Inmarsat lost an eighth of its value after sounding the alarm over a slowdown at its mainstay shipping division.

The FTSE group, which provides satellite phone and internet services, signalled that growth at its maritime wing would fall short of expectations this year.

Sailors are increasingly turning to its broadband products to stay in touch and were making fewer expensive satellite calls, which had caused a 'temporary drag' on earnings, it said.

Shares tumbled 92.5p or 13.5% to 592.25p even as the company upped its full-year dividend by 10% to $0.36. Pre-tax profits rose 70% to £206m in 2010.

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.