Cash flush Arqiva boasts record returns

 
Oliver Gill
Follow Oliver
Radio Academy Arqiva Hall Of Fame - Arrivals
Arqiva is owned by a number of institutional investors including Macquarie and the Canada Pension Plan (Source: Getty)

Arqiva, the firm that owns Britain's TV masts, today revealed it raked in the cash over the last year.

Cash coffers swelled by £333m, a 47 per cent increase on the previous year.

The firm celebrated a "record year" as it grew revenue by seven per cent to £944m and earnings by 10 per cent to £467m.

Majority owners Macquarie and the Canada Pension Plan currently are pursuing a twin-track sale process. A private sale is understood to be shareholders' preference but they have also instructed banks to explore the possibility of a stock market float.

The firm has been valued in the region of £6bn.

Read more: Arqiva suitor walks away from £6bn sale

Over the weekend it emerged one of Arqiva's lead suitors, Singapore sovereign wealth fund GIC, had withdrawn its interest.

With only one declared party left, understood to be Canadian property firm Brookfield, the chances of a float have increased.

Chief executive Simon Beresford-Wylie said: “It has been an excellent year for Arqiva, with another year of record results driven by strong operating performances in each of our core business areas."

Arqiva is positioning itself as the UK's "5G pioneer", leveraging its current telecoms infrastructure and working with partners such as Samsung with a recent trial in London.

"The trial is a great example of Arqiva’s focus on market opportunities and our commitment to helping the UK become a vibrant digital economy," said Beresford-Wylie.

“Arqiva has long term contracts in place with a number of significant blue chip customers which support our long term financial stability.”

Read more: Arqiva picks banks in £6bn float plans

Related articles