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Inmarsat delays Global Xpress launch, sees hit to guidance

Reuters - UK Focus

LONDON, May 18 (Reuters) - British satellite company Inmarsat Plc (Other OTC: IMASF - news) delayed the launch of its Global Xpress satellite on Monday following the launch failure of another rocket at the weekend, forcing it to also trim its financial outlook.

Inmarsat said it could now not give a date for the launch after the Proton Breeze M launch failed in Kazakhstan on Saturday (Shenzhen: 002291.SZ - news) .

It expects this to have a small negative effect on 2015 revenue and earnings and said it had suspended its guidance of an 8-12 percent compound annual growth rate in wholesale MSS revenues over 2014-16. (Reporting by Kate Holton; editing by Susan Thomas)