CWC 6M revenues slip 3% to USD935m; net income grows 26%

15 Nov 2013

UK-based Cable & Wireless Communications (CWC) reported consolidated revenues of USD935 million for the six months ended 30 September 2013, a decrease of 3% year-on-year. EBITDA for the period under review increased 3% y-o-y to USD298 million, while net income increased 26% to USD63 million. In operational terms, CWC reported a consolidated mobile subscriber base of 3.592 million (up 5% y-o-y), alongside 378,000 broadband users (+4%) and 1.104 million wireline customer accounts (-2%).

Tony Rice, CEO of CWC, commented: ‘Our first half was characterised by an impressive performance in our mobile business and good progress on our cost reduction programme. Growth in mobile revenue and EBITDA of 3% for the group was a strong result given competition and other market challenges we faced. We are setting the standard for mobile data in our markets, and customers are responding. Mobile data revenue rose 29% over the half with all regions seeing growth. We are continuing to invest in mobile data, particularly in Long Term Evolution (LTE) networks, which we launched in Monaco recently and will launch in the Bahamas and Cayman in the second half’.

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