14th Mar 2024 14:32
(Alliance News) - Cordiant Digital Infrastructure Ltd on Thursday reported a boost from contract wins as it gave an upbeat trading update.
The investor in data centres, telecommunications towers, and fibre networks in the UK, Europe and North America said its aggregate portfolio earnings before interest, tax, depreciation and amortisation rose by 6.4% on a like-for-like constant currency pro forma basis to GBP99.4 million in the nine months to December 31.
Aggregate portfolio company revenue climbed 8.2% to GBP217.4 million year-on-year in the nine-month period, also on a like-for-like constant currency pro forma basis.
The company said its results were driven by contract wins or enhancements, cost control and beneficial effects of inflation on revenue.
Steven Marshall and Benn Mikula, co-heads of Cordiant Digital, said: "The diversified portfolio of assets we have assembled at a comparatively low entry multiple to Ebitda continues to perform well operationally. Under our management, the portfolio has grown revenues and Ebitda from the existing asset base, and we have judiciously deployed growth capital expenditure into accretive projects.
"We continue to execute our Buy, Build & Grow model in order to deliver a larger, more diversified digital infrastructure platform, capital growth and a progressive dividend over time."
Cordiant Digital shares were 0.4% higher at 69.85 pence each on Thursday afternoon in London.
By Tom Budszus, Alliance News slot editor
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