Helios Towers narrows losses as revenue gets lift from rise in tenancies

Thu, 12th Mar 2020

Helios Towers reported narrower losses on higher revenue driven by increase in tenancies amid forays into new markets, including South Africa last year. In 2019, pre-tax losses narrowed to £74.8m from £119.5m as revenue rose 9% to £387.8m. The increase in revenue was largely driven by the 8% increase in tenancies to 14,591. The number of sites increased by 3% to 6,974 following the company's entry into the South African market in 2019 and predominantly by site growth in DRC and Ghana. 'In 2020, and beyond, we will continue to focus on driving profitable revenue expansion by leveraging the exciting growth in our sub-Saharan markets, our long-term client contracts and sustained improvements in our operational excellence, with an appropriate eye on further inorganic opportunities,' Helios Towers said. At 8:42am: (LON:HTWS) Helios Towers PLC share price was -5.4p at 92.8p Story provided by StockMarketWire.com

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