C&W enjoys success in its first full year

Monday 7th June 2004, 12:00AM BST.

INCREASED mobile phone coverage and capacity in advance of the NatWest Island Games was a highlight for Cable & Wireless Guernsey last year. The company has completed its first full financial year since Guernsey Telecoms was bought from the States in mid-2002.

Chief executive Jeremy Thompson said the firm had performed strongly during the past 12 months, building on investment in its people and services.

Last week, the worldwide group announced a turnaround in fortunes; pre-tax profit rose to £317m. as at 31 March from £79m. the year before.

Although no breakdown figures were available, a growing number of mobile phone users helped to increase revenue for the group’s ‘rest of the world’ subsidiaries.

‘International revenue fell by 6% at constant currency from the prior year due to continuing price pressure in all markets as a result of increased competition,’ said the group annual report.

‘Mobile revenue rose by 26% at constant currency compared to the prior year due to continued growth in subscribers in Sakhalin, the Maldives and Guernsey.’

Mr Thompson said highlights in a busy year included new services for mobile customers, such as Lifestyle and M-pay, Broadband Select and the development of its shops in Smith Street and at Centenary House.

During the year, the telecom provider also implemented a staff-training programme which has so far seen more than 800 days provided to support core activities such as customer satisfaction, process-development and communication.

‘It has been a year of solid progress and our staff have embraced change and achieved a great deal in terms of developing our services,’ said Mr Thompson.

‘However, our measure of success is not short-term.

‘We are committed to continuous improvement and will continue to focus on customers to meet their changing requirements.’

The increased mobile coverage for last year’s Games was part of the company’s investment in the network infrastructure, which contributed directly to the strong performance.

The development of business services, such as data and Internet Protocol, was also part of C&W’s commitment to the community, said Mr Thompson.

The company also gave ongoing support to the Guernsey Grid for Learning, offering schools high-speed Internet access.

C&W group chairman Richard Lapthorne said the company had stopped a three-year decline in UK sales.

‘Eighteen months ago, C&W was regarded as down and out. Today that is not the case and the resumption of dividends is evidence of our belief that we can build a prosperous future.’

It has recommended a total dividend for the year of 3.15p per share.


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