Telecom mast operator Helios Towers beats quarterly estimates on higher demand
British telecoms infrastructure group
Helios Towers
reported on Thursday a higher than expected number of tenancies in the first three months of this year as
mobile operators
rented more towers.
First-quarter tenancies - the number of tower spaces leased to telecoms customers - came in at 30,074, up 8.6% from a year ago.
Analysts expected 29,983 tenancies, according to a consensus poll compiled by the company.
Helios builds, owns and manages more than 14,000 sites in Africa and the Middle East, where service providers outsource and share passive telecoms infrastructure.
The company is betting on demand from African countries, as rapid population growth and higher mobile penetration is expected to drive demand for digital connectivity, including 5G and artificial intelligence.
The London-listed company confirmed its annual guidance, despite flagging broader economic uncertainty.
Quarterly earnings reached $111.1 million, matching the analysts' forecasts.
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