CWC issues performance update for 1Q2012/13

20 Jul 2012

Cable & Wireless Communications (CWC) has released an interim management statement for the three months to end-June 2012, with the UK-based company noting that group trading performance remains in line with the outlook it had set out in its FY2012 results and saying that it was continuing to focus on improving cash flow generation and increasing returns on invested capital. The company pointed to continued growth in mobile data revenue, notably in Macau and Panama, although it did note that turnover from voice services was continuing to decline across all of its operational units.

Looking specifically at individual countries, CWC noted that its Panamanian units had shed a large number of low-value, promotion driven customers, despite which it managed to maintain mobile revenue. On the back of a reduction in termination rates in Jamaica meanwhile the company noted that its subsidiary there had ‘seen an early pick-up in customer numbers resulting from promotional activity’. Rounding out areas specifically mentioned by the group, Bahamian telco BTC is reportedly ‘running ahead of [CWC’s] post-acquisition plan’, Macau continues to trade strongly, and Monaco and the Islands are ‘trading in line on an underlying basis’, with CWC expecting the latter’s performance to be affected by the weakness of the euro.

At the end of June 2011 Cable & Wireless Panama’s mobile customer base stood at 1.656 million, down from 2.04 million a year earlier, with fixed line voice and broadband customers totalling 395,000 and 141,000 respectively, up from 386,000 and 129,000 at mid-2011. In Macau, mobile customers rose to 434,000 from 402,000 at end-June 2011, with fixed broadband accesses increasing to 140,000; fixed voice connections bucked the trend, however, falling to 174,000. Mobile subscriber numbers across CWC’s Caribbean operations fell to 1.49 million at June 2012, down from 1.53 million, while fixed voice and broadband subscribers totalled 714,000 (down from 735,000) and 221,000 (223,000) respectively. The Monaco & Islands unit meanwhile recorded mobile, fixed voice and broadband accesses of 549,000 (534,000 at June 2011), 125,000 (128,000) and 58,000 (53,000).

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