13 May 2016 16:04
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Don't have an account? Click here to register.Cable & Wireless swings to first half loss
Thu, 05th Nov 2015 10:37
(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 the same period a year ago.Still, revenue rose 4% to £1.18bn thanks to an "excellent" performance in the Caribbean, which is the group's largest region and where core earnings rose 22%.Group earnings before interest, tax, depreciation and amortisation increased 4% to $427m.The company said it now expects cost synergies of $125m from its acquisition of Columbus, up from a previous estimate of $85m.C&W did not declare an interim dividend, pointing to ongoing discussions with Liberty Global regarding a possible shares and cash offer for the company. However, it said it will declare an interim dividend of 1.33 cents per share if discussions with Liberty are not fruitful.Chief executive Phil Bentley said: "Our company has significant growth and synergy potential. Whilst we are in the first phase of our 3 year plan, we are pleased with initial progress and expect to deliver a strong second half and full year performance in line with outlook."We remain on track with our 3 year plan and are confident our business model will deliver significant long-term shareholder value creation."At 1055 GMT, C&W shares were up 0.5% at 74.45p.
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5 May 2016 15:14
15 Mar 2016 11:37
BUZZ-UK Budget: Liberum latest to warn of interest tax change
** Liberum latest broker to warn a possible change in the way UK allows cos to claim tax breaks could hit highly-levered stocks ** Government looking to cap tax breaks from interest payments on debt at 10-30 pct of EBITDA. Link: http://bit.ly/1MgJSoO ** Liberum screens for stocks with
Read more22 Feb 2016 15:19
Cable & Wireless reveals further details on Liberty Global takeover
(ShareCast News) - Cable & Wireless Communications shares rose on Monday after the company said it had reached an agreement on the terms of Liberty Global's proposed takeover deal. Liberty Global has offered to buy the entire issued share capital of CWC for £5.4bn, expanding its telecoms business in
Read more11 Feb 2016 12:10
Cable & Wireless posts rise in third quarter earnings
(ShareCast News) - Telecoms provider Cable & Wireless reported a rise in third quarter earnings and revenue, underpinned by cost synergies. Third quarter earnings before interest, taxes, depreciation and amortisation rose 16% to $238m and year-to-date EBITDA was up 8% to $665m. Third quarter revenu
Read more4 Feb 2016 16:30
17 Nov 2015 18:03
C&W launches consent on Liberty purchase agreement
By Paul Kilby NEW YORK, Nov 17 (IFR) - Caribbean telecom operator Cable & Wireless Communications launched a consent solicitation for US$750m of its 2022s after Liberty Global agreed to buy the company in a deal valued at US$8.2bn including debt. The company is asking holders to waive
Read more16 Nov 2015 19:25
Liberty Global to acquire Cable&Wireless in £3.5bn deal
(ShareCast News) - Liberty Global reached an agreement on Monday to purchase Cable&Wireless Communications in a cash and stock deal valuing the carrier at £3.5bn ($5.3bn). The transaction - which valued the London-listed carrier at 10.7 operating earnings - was set to extend the reach of his enterpr
Read more12 Nov 2015 09:35
10 Nov 2015 11:39
UPDATE 1-Bahrain's Batelco Q3 net profit falls 16 pct
* Q3 profit 13.4 mln dinars vs 16 mln dinars a yr ago * Q3 revenue 93.9 mln dinars vs 97.3 mln dinars a yr ago (Adds details) By Matt Smith DUBAI, Nov 10 (Reuters) - Bahrain Telecommunications Co (Batelco) reported a 16 percent fall in third-quarter profit on Tuesday on decli
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