CWC.L Share News (CWC)

Cable & Wireless Communications saw its shares rise on Tuesday after it reported an increase in revenues during the third quarter.The telecom services provider said its like-for-like revenues were up 2% to $444m, helped by a 4% increase in mobile revenues.But it warned that an expected new mobile entrant in the Bahamas this year will impact its mobile revenues.Broadband and TV division revenues were flat during the quarter, with growth in broadband subscribers being offset by lower average revenue per user because of promotional strategies.CWC announced in November the $1.85bn take over of Columbus International, a fibre-based telecommunications and technology services provider. The acquisition is still dependent on certain conditions, but the group expects to be complete it by the end of the fiscal year.Chief executive Phil Bentley said: "In the third quarter we have continued to build momentum through our investment-led project Marlin and we are continuing to deliver top line growth."Investments in our mobile networks have improved coverage and reliability and we saw mobile data grow a further 23% with traffic carried on our networks increasing by over 35%."Shares were up 3.02% to 56.25p on Tuesday at 15:22.