Helios Towers revenue swells as it sets aside $650m for acquisitions spree
Telecoms infrastructure company Helios has had its revenue swell by a quarter to over $265m, following a M&A spree in Africa.
The London-listed firm, which focuses on the Middle East and Africa for its telecoms infrastructure, has also seen its phone tower sites jump by more than 2,000 over the past year to some 10,700 across both regions.
“We have delivered strong organic tenancy growth in the first half of the year, which combined with the successful integration of acquired assets in Senegal, Madagascar and Malawi has resulted in impressive year-on-year financial performance,” Tom Greenwood said, having taken on the role of CEO at their annual general meeting in April.
Greenwood, the company’s former chief operating officer, took on the reins from Kash Pandya, who exited the role after seven years and led the company onto the London market.
Helios confirmed it intends to keep pushing on with its acquisitions, targeting capital expenditure of around $810m to $850m for this year – with acquisitions making up some $650m of the cash pot in 2022 alone.