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Cable & Wireless annual profit rises

Wed, 20th May 2015 10:06

Telecoms service provider Cable & Wireless Communications said it was still some way of realising the potential of the business, despite an encouraging performance across the board.In the year to 31 March, the FTSE 250 group reported a 7.14% increase year-on-year in earnings before interest, tax, depreciation and amortisation to $585m (£378m), while revenue grew 4% to $1.75bn.The group's gross margin improved and operating costs declined 2%, although net profits plummeted to $253m from $859m as proceeds on disposals fell by approximately two thirds.As part of its $1bn investment plan, Cable & Wireless bought Panama-based Sonitel for $16.5m and Columbus International for $3.03bn and sold its Monaco Telecom business for $445 in May 2014 and its stake in Solomon Telekom for $16.5m."We have made good progress in executing our strategy and we are beginning to uncover the full potential of our business," said group chief executive Phil Bentley."CWC is on the way to becoming a better company - a genuine quad play operator, with strong market shares in the geographically focused and attractive Caribbean and Latin American markets."Bentley added that the group had registered growth across the board in its financial year, although it described the 1% growth in its broadband business as disappointing."Although we face increasingly competitive conditions within some markets we expect to continue making good progress in growing our revenue and reducing our operating cost base," he said.Cable and Wireless shares were down 3.30% to 66.00p at 10:44 on Wednesday.

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5 Nov 2015 10:37

Cable & Wireless swings to first half loss

(ShareCast News) - Cable & Wireless swung to a pre-tax loss in the first half on the back of costs related to its acquisition of Columbus Communications. For the six months ended 30 September, the telecommunications company posted a pre-tax loss of $1m (£650,000), compared with a profit of $132m in

5 Nov 2015 08:30

Cable & Wireless Communications Posts Small Loss On Higher Costs

29 Oct 2015 16:23

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23 Oct 2015 09:25

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23 Oct 2015 07:46

BUZZ-Cable & Wireless: continues rally after confirming Liberty Global approach

** Cable & Wireless rises a further 9.3 pct, adding to a 20.7 pct gain into the close on Thursday after it confirmed talks with Liberty Global regarding a possible takeover ** Liberty, led by "King of Cable" John Malone, already owns a 13 pct stake, as well as a 9.9 pct stake in ITV *

23 Oct 2015 07:31

LONDON MARKET OPEN: Cable & Wireless Rises On Liberty Global Talks

23 Oct 2015 07:23

LONDON BRIEFING: Draghi Boost Continues Into Friday

22 Oct 2015 16:55

Liberty Global may be set to scoop up Cable&Wireless

(ShareCast News) - Liberty Global may snap up Cable&Wireless before early November in a bid to increase its reach in the Carribean and elsewhere, The Wall Street Journal reported citing people familiar with the matter. The transaction, whose value may reach over $5bn, could be announced before they

22 Oct 2015 16:55

Liberty Global may be set to scoop up Cable&Wireless

22 Oct 2015 16:23

UPDATE 1-Cable & Wireless says in talks with Liberty Global

(Adds details, share price) Oct 22 (Reuters) - Cable & Wireless Communications Plc said it was in talks that could result in a takeover offer from Liberty Global Plc, the cable company backed by billionaire John Malone. A deal would give Liberty a foothold in the Caribbean and Latin

22 Oct 2015 16:16

UPDATE: Cable & Wireless Confirms Takeover Talks With Liberty Global

22 Oct 2015 16:08

LONDON MARKET CLOSE: ECB's Draghi Gives Markets What They Want To Hear

22 Oct 2015 15:47

Cable & Wireless Confirms Possible Offer Talks With Liberty Global

8 Oct 2015 17:33

Thursday broker round-up

(ShareCast News) - Tullow Oil: JP Morgan Cazenove upgrades to overweight, cuts target price to 310.00p. Soco International: UBS downgrades to sell, keeps target price at 150.00p. Synthomer: Berenberg Bank starts new coverage with a buy, sets target price at 400.00p. Weir Group: Investec Securities

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