Inmarsat shrugged off concerns about an economic slowdown, but shares in the UK satellite communications company fell after its annual results disappointed some investors.

The company, which provides satellite telephony services to ships, aircraft and remote land locations, reported a 39 per cent increase in pre-tax profits to $124.8m (£62.1m). But this fell short of heightened market expectations for the company, which has consistently outperformed forecasts since it listed three years ago.