Inmarsat

My word, this looks very good indeed:

The company sells its services through a worldwide network of distribution partners and service providers and has about $1.4m (£866,000) of debt, with none of it maturing this year.

On a company that size that level of debt is a rounding error.

Our liquidity position remains strong and we are well positioned to meet our funding needs. At 30 June 2009, the Group had net borrowings of $1,414.1m, made up of cash of $173.1m and total borrowings of $1,587.2m.

Ah. Debt is in fact 1,000 times what the Telegraph said it was.

Altogether now: Don\’t these people have editors?

One comment on “Inmarsat

  1. 1,000,000 is approximately equal to 1,000,000,000 if you are a journalist or a politician. It’s all other people’s money so who gives a damn?

Leave a Reply

Name and email are required. Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.