CWC.L Share News (CWC)

Cable & Wireless Communications (CWC), a British telecommunications company, didn't grow sales in the first quarter but it was an improvement on previous declines.CWC, which does most its business in the Caribbean and Latin America, on Friday said that in the the three months to March 31st, sales from its mobile business increased 4%, boosted by strong growth in mobile data. Mobile subscribers increased 20% on a like-for-like basis, lifted by continued strong growth in Jamaica (37%).Broadband and TV revenue, hampered by slower network speeds, grew by 3%, although CWC said it expects sales will improve as it upgrades its networks.CWC said its was on track to save $100m by the end of year and that trading was in line with the the outlook it gave in its 2013-204 results.It's share price was up by nearly 1% at 10am.The company said that it expects revenue to be weighted to the second half of the year because of higher advertising spending and the start on an investment plan, including an upgrade to a fourth generation (4G) network, which it expects will increase sales.CWC, which traces its origins back to British telegraph companies founded in the 1860s, struggled to compete with bigger telecom companies last decade and demerged in 2010. In 2012, UK rival Vodafone bought Cable and Wireless Worldwide. CWC is still listed in London but has moved its headquarters, nearer its Caribbean and Latin American operations.CWC expects to announce its interim results on November 6th.NH