C&W: FY EBITDA jumps 23%

22 May 2008

Cable & Wireless has announced that underlying group EBITDA in the full year ended 31 March 2008 rose 23% to GBP605 million (USD1.15 billion), beating expectations, as group revenue fell on its decision to drop low-margin customers. The Group’s Europe, Asia & US (EAU) business unit reported an EBITDA of GBP219 million, more than double the previous year’s figure, while its International division reported a 3% rise in EBITDA to GBP830 million. The British telecoms group said its revenue fell to GBP3.15 billion, missing analyst predictions of GBP3.2 billion, from GBP3.35 billion last year. Group profit before income tax and exceptionals rose by 57% to GBP308 million.

At the end of March 2008 C&W International claimed a total active GSM customer base across 26 markets of 6.37 million, up from 5.03 million a year earlier. Broadband customers rose from 401,000 to 466,000 over the year, while fixed line connections fell from 1.9 million to 1.875 million. C&W EAU, meanwhile, had 6,544 large enterprise, reseller, carrier and public institutional customers at the end of the financial year, down from 9,992 in March 2007.

United Kingdom, Cable & Wireless (UK)