C&W reports steady performance

26 Jan 2005

UK-based telecoms operator Cable & Wireless yesterday reported a solid, although unexceptional, revenue performance in its fiscal third quarter. Results for the three months to 31 December were slightly better than expectations, with revenues of GBP808 million, down 4% compared with the same period a year ago, and marginally ahead of its market prediction of GBP797 million. Cable & Wireless has spent a large part of the past year reorganising its business to simplify its product offerings and realign its cost base to the tough operating environment facing the alternative carrier sector in the UK and elsewhere. Domestic pricing pressures have continued to push down revenues, but the company said it was encouraged by the performance of its Bulldog broadband product in the UK which accounted for GBP4 million in sales in the three-month period compared to GBP3 million the previous quarter.

United Kingdom, Cable & Wireless (UK)