Helios Towers PLC - mobile phone towers in Africa - Posts rising revenue and earnings amid the company's strongest quarter of organic tenancy additions in six years. Revenue rises 6% to USD326.8 million for the nine-month period ended September 30 from USD307.9 million a year prior. Adjusted earnings before interest, tax, depreciation and amortisation climbs 5% year-on-year to USD175.0 million. Growth was attributed by Helios to the acquisition of Free Senegal's tower portfolio in the second quarter and continued organic tenancy growth across the group. Tenancy outlook is reiterated for 2021, targeting 1,000 to 1,500 new tenancies. Adds the company's tenancy pipeline "remains robust". Has 17,773 tenancies at end of third-quarter.
"We are delighted to deliver our strongest quarter of organic tenancy additions in six years, with 683 incremental organic tenancies and we have a busy quarter ahead, reflecting the significant demand we are seeing from mobile operators across all our markets," comments Chief Executive Kash Pandya.
Current stock price: 157.20 pence, down 5.5% Thursday
Year-to-date change: up 2.8%
By Will Paige; willpaige@alliancenews.com
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Helios Towers (HTWS)