C&W announces half-year results

Cable & Wireless has announced its results for the six-month period ending 30 September, revealing another strong performance from Cable & Wireless International.

‘This period represents solid financial performance with strong growth in our strategic areas of mobile and broadband,’ said Harris Jones, chief executive, Cable & Wireless International. ‘We have continued to improve our overall market position by investing in our network and services in existing markets and launching a new mobile service in Jersey.’

Revenue for C&W International for the first six months of this financial year is £620 million (5 per cent higher than the same time last year), as strong performance in the growth areas of mobile and broadband more than offset declines in fixed line revenues.

Cable & Wireless International is leader in 20 out of the 25 markets in which it provides mobile services, and over the past six months has increased its total mobile customer base to 5.4 million. A focus on customer experience and value-added services helped to grow mobile revenue by 15 per cent.

Turning to broadband, revenue leaped ahead by 45 per cent since September 2005 and customers grew by 61 per cent on the back of good growth in all 27 Cable & Wireless broadband markets. Its strategy of widespread coverage coupled with lower prices and speed increases is proving to be well received by customers across the portfolio.

In those markets where Cable & Wireless has limited fixed line penetration it is deploying WiMax technology to deliver broadband capability to customers.

‘There have been some significant milestones for us over the last six months and we have made progress in laying the foundations for providing our customers with the technology of the future. In Macau, our business has been awarded a 3G licence and will launch these new mobile services early next year,’ he said. ‘Elsewhere we have invested in undersea cable upgrades in order to ensure that we can provide our residential and business customers with the best quality and value broadband experience.’

Cable & Wireless International is the world’s pre-eminent telecoms provider for small to medium sized economies. It operates in 34 countries around the world, including Panama and 14 islands in the Caribbean. These latter businesses make a significant contribution to the financial results of Cable & Wireless International.

Chris Hetherington, CEO C&W Americas & Caribbean, said: ‘The past six months have been very busy for our businesses in this region – we have delivered a number of new propositions for our customers including the MPLS network for our business customers and a pre-pay roaming service for our mobile customers. We continue to be the favourite mobile service provider in all but four of our Caribbean markets and we are confident that we will gain leadership in two further markets by April next year. So the following six months should be exciting for us and our customers – not least due to our sponsorship of the ICC Cricket World Cup in early 2007.’

‘We are very confident in the reliability, strength and over all superior quality of the service we provide to the Cayman Islands, which allows us to maintain our position as the market leader in all product areas,’ said Acting CE of Cable & Wireless (Cayman Islands) Ltd. Rudy Ebanks. ‘We feel that it is this quality that retains our existing customers and encourages new customers to purchase services from us. It is our drive to provide innovative communication solutions that meet the needs of our loyal customer base that keeps us ahead of the competition. We are extremely grateful to our customers for their business.’

The full announcement for C&W plc half year results is available on www.cw.com

Who they are

About Cable & Wireless

Cable & Wireless is one of the world’s leading international communications companies. It operates through two standalone business units – International and UK.

The International business unit operates integrated telecommunications companies in 34 countries offering mobile, broadband, domestic and international fixed line services to residential and business customers, with principal operations in the Caribbean, Panama, Macau, Monaco and the Channel Islands.

The UK business unit provides enterprise and carrier solutions to the largest users of telecoms services across the UK, US, continental Europe and Asia, and wholesale broadband services in the UK.

For more information about Cable & Wireless, go to www.cw.com.

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