CWC 6M revenues up 4% to USD1.18bn

6 Nov 2015

Cable & Wireless Communications (CWC) has issued a trading update for the six months ended 30 September 2015, reporting consolidated revenue of USD1.179 billion for the period under review, up 4% year-on-year on a pro forma basis. Excluding the contribution of recently acquired Columbus International unit in the year-ago figures, sales surged 39% on an annualised basis. Elsewhere, six-month EBITDA increased 4% on a pro forma basis, up from USD412 million to USD427 million.

In operational terms, CWC reported a consolidated mobile user base of 4.096 million at 30 September 2015, up from 3.815 million one year earlier. Broadband subscribers increased from 635,000 to 681,000 in the year under review, with video (pay-TV) customers reaching 465,000 (451,000) and fixed voice users totalling 1.129 million, unchanged y-o-y. CWC notes that mobile network improvements through Project Marlin investments in HSPA+ and LTE infrastructure have facilitated mobile data revenue growth of 17%, or USD26 million. Further, traffic over its mobile networks grew by 93% on an annualised basis, while 46% of customers now have a smartphone.

Phil Bentley, CEO of CWC, commented: ‘Our company has significant growth and synergy potential. Whilst we are in the first phase of our three-year plan, we are pleased with initial progress and expect to deliver a strong second half and full year performance in line with outlook … Project Marlin is now in its second year and, having established HSPA+ as the minimum network standard across CWC’s mobile footprint, our focus is now on LTE upgrades in select markets. We are also rolling out high-speed data networks in our markets and passed an additional 33,400 homes with 832km of fibre during the half whilst upgrading 53,000 customers in Barbados from legacy networks’.

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