First-quarter earnings jump at Helios Towers

The London-listed firm, which builds and operates telecoms towers for mobile network operators in Africa and the Middle East, said revenues increased 14% in the three months to 31 March to $194.6m.

Adjusted earnings before interest, tax, depreciation and amortisation rose 21% to $102.2m.

Helios said it was making "solid progress" towards its full-year guidance as a result.

The company is currently forecasting organic tenancy additions of between 1,600 and 2,100 for the full year, and adjusted EBITDA of between $405m and $420m.

Tom Greenwood, chief executive, said: "We have started the year well, continuing the momentum from 2023 to deliver strong operational and financial performance.

"This was one of our strongest quarters for tenancy additions.

"Looking forward, we reiterate our full-year guidance as we continue to focus on organic growth, deleveraging and an inflection in our free cash flow."

Helios Towers currently owns and operates more than 14,000 telecoms towers.