CWC issues interim statement for first quarter performance

25 Jul 2011

UK-based Cable & Wireless Communications (CWC) has issued an update on its performance during the three months ended 30 June 2011, revealing that revenues from mobile operations in Panama were higher than in the same period of the previous year, while turnover from enterprise services in the country increased, spurred by the award of three government projects in April 2011. In the Caribbean however, CWC noted that mobile subscribers had fallen in Jamaica as it had ‘discontinued certain promotional activities’, although it said that in other markets in the region customer number were in line with the figure at end-June 2010. Performance in the Caribbean broadband sector, CWC said, was solid, with higher average revenue per user (ARPU) reported as a result of a combination of price increases and wider availability of higher speed services. Further, the company also noted that declines in the fixed line voice sector across the Caribbean had slowed, while ARPU remained in line with that reported in 1Q10. Operations in Macau meanwhile saw handset revenues increase on the back of increased demand for smartphones, while in Monaco & Islands CWC said that mobile subscriber growth and increased turnover from non-voice services helped offset declines in voice revenue. Overall, the company noted: ‘For each of our business units including the Bahamas, the trading performance in the first quarter has been satisfactory and remains in line with the outlook indicated at our year-end results on 25 May. The restructuring of [operations in] the Bahamas, which we acquired at the beginning of the quarter, is progressing well.’

United Kingdom, Cable & Wireless Communications (CWC, incl. Columbus Int.)