LONDON Nov 8 London-listed telecoms operator
Cable & Wireless Communications posted a 2 percent rise
in earnings for the first half helped by strong growth in mobile
The group, which has operations in Panama, the Caribbean,
Macau and Monaco & Islands, reported earnings before interest,
tax, depreciation and amortisation (Ebitda) of $445 million on
revenue 1 percent higher at $1.43 billion, slightly ahead of
average market forecasts.
Chief executive Tony Rice said it was a respectable
performance against a backdrop of tough market for telecoms
companies. The group reiterated that core earnings for the year
would be in line with 2011/12.
"Significant investments in high speed, mobile data capable
networks across the Group last year are already delivering
returns, and we expect the growth to continue," he said.
"Voice revenue, however, continues to decline and we are
delivering on our plan to reduce costs to mitigate this."
C&W Comms is looking to retrench to its core operations in
the Caribbean and Central America, and it in talks to sell its
Monaco & Islands unit to Batelco and its stake in CTM in Macau
to fellow investor Citic Telecom International.
It said on Thursday that it was making progress in its
strategy to reshape the business.
The market expected the company to report core earnings of
$441 million on revenue of $1,418 million for the six months to
end-Sept, according to a company-supplied consensus of 12