You are here

Global Invacom see short-term boost from Brexit vote

GLOBAL Invacom Group, which supplies BSkyB with satellite dishes and circuit boards for set-top boxes, on Tuesday said it may establish a logistics hub in a EU country in order to continue tariff-free transactions via a possible UK-EU Free Trade Agreement to be negotiated.

The company added that the weakening of the British pound following the results of the "Brexit" vote is expected to have a "favourable" foreign exchange impact on the group's financial performance in the near to medium term. It said nearly all of its revenue for satellite communications equipment is denominated in US dollars; a "significant" portion of its operational and research costs is denominated in sterling.

"The directors believe that the immediate impact on the group's satellite communications will not be significant," it said.

Market voices on: