U.K.-headquartered Helios Towers plc (HTWS.L), an independent telecommunications infrastructure company on Thursday reported higher revenues for the six months ended 30 June. The company also recorded a turnaround in results to profit from loss in the prior-year period.
The profit before tax for the period was $77.2 million as compared with a loss before tax of $0.4 million in the previous period.
The profit for the period stood at $30.9 million versus a loss of $24.5 million during the corresponding period of the previous year. The change is driven by $46.0 million lower finance costs due to positive foreign exchange differences and a $29.7 million improvement in other gains and losses due to hyperinflation accounting.
Revenue increased by 7 percent year-on-year to $418.3 million from $389.9 million in the prior-year period, largely driven by tenancy growth.
The Group reaffirms its fiscal 2025 guidance of Adjusted EBITDA of $460 million to $470 million.
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