Arqiva revenues up 2.7%, but Satellite & Media down
September 26, 2019
By Chris Forrester
Arqiva, the UK-based television, radio and cellular facilities company, has reported full-year results with revenues up 2.7 per cent to £990.4 million in its financial year to June 30th.
“These results reflect a year of significant growth in revenue, profit and cash generation which underscore Arqiva’s vital role in enabling the UK’s success in the digital economy,” said a company statement.
Arqiva reported continued strong growth in its core business augmented by successful delivery of significant programmes including 700MHz clearance, DAB rollout and continued delivery of smart-metering networks. However, Arqiva stated that it would be meeting with investors as part of its strategy to refinance some of its existing borrowings.
Terrestrial business grew 0.4 per cent to £491.3 million. Arqiva’s Satellite and Media division suffered with a 7.7 per cent YoY fall to £123.2 million from £133.5 million a year previous.
The company said: “Arqiva signed a five-year agreement with BBC, ITV and Channel 4 to accelerate Freeview’s transition to a fully hybrid platform. This will see it provide the best in free-to-view live and on-demand TV, while also enabling viewers to access their favourite over-the-top subscription services at the same time. This cost-effective method will ensure viewers have terrestrial access to the live programming best delivered through that medium, while simultaneously providing access to the on-demand services they want most.”