Avanti Communications is set to launch its second satellite into orbit during the second quarter of 2012, it has been reported.
John Brackenbury, Chairman of the broadband provider, said the firm was experiencing "continued success" in the construction and commercialisation of HYLAS 2.
As such, the firm's second satellite remains on target for launch in the spring.
"Our pipeline of new business gives us confidence in our ability to meet expectations," he stated.
Mr Brackenbury said 2010-11 had been a landmark year for the group, which launched HYLAS 1 last autumn and is now generating revenues from the satellite.
The firm generated £5.46 million in the year to July 2011, making a £9.7 million loss after tax.
Avanti explained that legacy activity ceased as the firm prepared for the launch of HYLAS 1, and this affected takings.