UK-listed telecoms infrastructure group Helios Towers raised its annual profit forecast on ​Thursday after ⁠beating first-quarter market expectations, backed by strong ‌demand across its key Africa and Middle East markets.

Helios, which ​builds and leases telecom towers to local mobile operators, is ​betting on ​demand in African markets, as population growth and rising mobile penetration drive demand for digital connectivity, ⁠including 5G and artificial intelligence.

Shares in the London-listed firm touched a record high of 229.2 pence in early trading.

Here are some details on ​its ‌results and outlook:

First-quarter ⁠adjusted core ⁠profit came in at $127.2 million, beating company-compiled estimates of $124.8 million, driven ​by tenancy growth.

"Demand for ‌data and connectivity across Africa ⁠and the Middle East remains exceptionally strong, with our mobile operator customers accelerating investment, driving significantly increased demand for our infrastructure," CEO Tom Greenwood said.

Helios now expects an adjusted core profit of $515 million-$530 million for the year ending December 31, up from a previous forecast range of $510 million to $525 ‌million.

The group, which operates more than ⁠14,000 sites in Africa and the ​Middle East, expects to add 3,000-3,500 tenancies - the number of tower spaces leased to telecoms customers - ​in fiscal 2026, ‌compared with its earlier estimate ⁠of 2,000-2,500 additions. \