CABLE AND Wireless plc last week announced its results for the year ended 31st March 2006 revealing a strong performance from Cable & Wireless Wireless (C&W) International.
In January 2006, Cable & Wireless split its business into two distinct operating units, Cable & Wireless U.K. and Cable & Wireless International. Its operations in Jamaica fall under the portfolio of Cable & Wireless International.
Revenues for C&W International increased by six per cent year on year to £1.2 billion, as strong performance in the growth areas of mobile and broadband more than offset declines in fixed line revenues.
Operating profit grew three per cent to £333 million, resulting in operating cash flow of £245 million.
Cable & Wireless International is leader in 18 out of the 22 markets in which it provides mobile services, and in the past year, despite increasing competition, has increased its total mobile customer base by 22 per cent.
Strong customer demand for mobile services led to a 17 per cent increase in mobile revenues.
MARKET LEADER
A similar growth in demand for broadband services resulted in a 97 per cent increase in customer base and a 72% year on year growth in revenue. Cable & Wireless is leader in all of the 21 markets in which it provides broadband, and in nine markets it has penetration rates exceeding those in the U.K. and U.S.
Cable & Wireless continues to drive down prices and increase the speeds of its broadband service, believing that broadband is critical to its future success.
"Cable & Wireless International has been through a considerable period of transformation," said Harris Jones, group managing director, International, "over the past four years we have seen fierce competition entering many of our markets. We have now reached a stage where 93% of our revenues are generated in competitive markets, and I believe it is fair to say that the impact of liberalisation is in our rear view mirror."
Cable & Wireless International operates in 33 countries around the world, including 14 islands in the Caribbean with the Caribbean businesses making a significant contribution to its financial results.
