Helios Towers Plc (HTWSF), a British telecommunications tower company, on Thursday reported a narrower pre-tax loss for the first-half, amidst lower cost of sales and an improvement in revenue.
For the six-month period to June 30, the firm posted a pre-tax loss of $0.4 million, compared with a loss of $39.4 million, recorded for the same period last year.
After tax, loss stood at $24.5 million or 2 cents per share as against last year's loss of $44.4 million or 3.9 cents per share.
Operating income surged to $132.3 million from $69.3 million a year ago.
Excluding items, EBITDA rose to $206.2 million from $173.8 million last year.
Cost of sales dropped to $188.9 million from prior year's $218.5 million.
Revenue was $389.9 million, up from previous year's $350.2 million, driven by tenancy growth that climbed to 28,574 from last year's 25,883.
Looking ahead, for the full year, Helios Towers has updated its expectations. The company now expects full-year adjusted EBITDA of $410 million to $420 million, compared with previous outlook of $405 million to $420 million.
Annual capital expenditure is now projected to be in the range of $155 million to $190 million against earlier guidance of $150 million to $190 million.
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