"Steady organic growth" for London telecoms company as revenues rise
A London telecommunications company has reported a revenue increase during the first half of the year.
Helios Towers announced today (August 19) that its revenues for the first six months of the year hit $212.4m, a 4 per cent increase on 2020’s $204m.
The company said that the increase was driven by “continued organic tenancy growth”, with the group adding more than 1,000 tenancies through its acquisition of Free Senegal.
However, it also saw operating profits decrease to $26.9m from $29.3m, a $2.4m drop, which it said was caused by an increase in deal costs, depreciation and loss on disposal of property, plant and equipment.
Kash Pandya, CEO, said: “The first half of 2021 has been a busy period for the group, closing the acquisition of Free Senegal’s tower assets and announcing five further acquisitions across Africa and the Middle-East.
“We are delighted to have commenced operations in the attractive Senegal market and through our experienced new markets function we have created a strong local team with our processes, systems and culture in place, ready to support mobile network operators efficiently expand coverage.
“We will be applying our tried and tested framework across each of the announced acquisitions, which we expect to close over the coming nine months.
“At the same time we remain incredibly focused on delivering exceptional customer service to our MNO partners in all our operating markets and driving organic growth.
“In Q2 2021 we delivered steady organic growth and another quarter of leading power uptime, while strengthening our tenancy pipeline to support accelerated growth in the second half of 2021.”
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