CABLE & Wireless has announced a positive set of results for the six months ended 30 September.
Its total group revenue increased by 5% to £1.6bn, with its Europe, Asia and US division up by 4% and its international one, of which Guernsey is a part, up by 5% to $1,273m.
Eddie Saints (pictured), chief executive of Cable & Wireless Channel Islands, Isle of Man and Bermuda, said the group’s continuing success was good news.
‘In our region, our half-year results were also ahead of plan, driven by great performance in Guernsey and continued growth in our enterprise business across the region.
‘In the second half of the year we expect to have mobile number portability in the Channel Islands and Isle of Man which will be positive because of our position as a value-driven, customer-focused operator.’
Other highlights for the international division included gross margin growing to $857m. and earnings before interest, taxes, depreciation and amortization increasing by 13% to $448m., which now represents 35% of revenue.
Guernsey’s performance up to September was included in the interim results alongside the international jurisdictions of Monaco, the other Channel Islands, Isle of Man, Seychelles, Bermuda and the South Atlantic region.
These areas together saw revenue rise by 6% to $275m. and earnings before deductions by 10% to $74m.
Revenue growth was largely attributable to growth in mobile and enterprise, data and other revenue streams.
Mobile revenue grew by $9m. to $75m. and was helped by increased roaming income in Monaco and the Channel Islands.
Article posted on 13th November, 2008 - 2.30pm
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