Telecoms infrastructure giant Arqiva today posted double-digit earnings growth and an order book that has swelled to almost £6bn.
The privately-owned firm, which calls itself a "5G pioneer", reported a 12 per cent growth in earnings to £351m for the nine months to 31 March.
Arqiva operates across a number of markets, providing infrastructure for mobile telecoms, TV, radio and satellite. It also develops machine-to-machine devices such as smart meters for utility firms. It is the largest independent towers and telecoms infrastructure group in the UK.
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Canada Pension Plan Investment Board (CPPIB) owns 48 per cent of Arqiva, with Australian private equity pairing Macquarie and IFM owning a 40 per cent stake between them.
Shareholders are understood to be seeking an exit, with Arqiva currently putting the final touches to sales documentation.
Total reported revenue from continuing operations rose eight per cent, with telecoms and machine-to-machine operations revenues underpinning performance with an 11 per cent increase.
Chief executive Simon Beresford-Wylie hailed the "excellent operating performances" by the firm's divisions with group earnings margins growing by 50 per cent.
The visibility of revenues with a contracted order book of close to £6bn, inflation-linked pricing, and the opportunity to increase utilisation of our infrastructure, places Arqiva in a very strong position to continue to deliver stable profitable growth.
"Our ongoing and significant investment in digital broadcast infrastructure; 4G, 5G, in-building solutions and small cells underlines Arqiva’s commitment to ensuring that the UK truly has a vibrant and globally competitive economy."
He continued: “Alongside our growth strategy, our transformation programme, ‘FutureFit‘, is lowering our cost base; aligning the way we work to better reflect market developments and the needs of our customers; and strengthening our ability to deliver complex projects.”