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Arqiva reports further growth

Broadcast infrastructure company Arqiva has reported an increase in revenue as it benefits from ongoing changes to Freeview and DAB infrastructure.

In the half year ending 31st December 2017, the company reported a like-for-like revenue increase of 5.0%, following progress 700MHz Freeview spectrum clearance, DAB radio roll-out and smart-metering. Resultant cash inflow from operations of £259m was up 19.4% against the prior year

Revenue in Arqiva's Terrestrial Broadcast business grew 7.0% to £239.4m from £223.8m in the same period last year. This performance was driven in part by the ongoing 700 MHz Freeview spectrum clearance programme and also by DAB radio roll-out, including the completion of local DAB multiplex coverage boosts. Income was boosted by ongoing demand for Freeview broadcast slots.

However, revenue in Arqiva's Satellite and Media business decreased 9.6% to £67.9m from £75.1m in the same period last year, as a result of the company exiting low-margin contracts and also due to changes in the value of the Pound. Revenue in Arqiva's Telecoms & M2M business grew 4.4% to £174.7m from £167.4m during the same period a year earlier.

Simon Beresford-Wylie, Chief Executive of Arqiva, commented:
“These results show that Arqiva continues to make excellent progress. We are a highly Operating Cash-generative business and our strong operating performance indicates improved efficiency across the entire Group. The strength of our financial performance reflects our vital role in delivering the technology that will ensure Britain’s digital future. From the delivery of new TV content to the clearance of the airwaves over which 5G will come to life, and the overall increasing demand for connectivity over the airwaves, we are a key enabler of a coming change. These results give us greater courage than ever in our convictions and we look forward to a strong second half across all of these areas.”