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Trading statements

CWC earnings up

11 February 2016 12:18

Cable & Wireless Communications has reported that third-quarter earnings (EBITDA) were up 18% to USD238m.

Q3 revenue came in at USD595m, up 1%, 3% on a like-for-like basis, while year-to-date revenue was USD1,774m up 3% and by the same amount on a like-for-like basis.

Phil Bentley, Chief Executive of CWC, commented:

"In the Third Quarter we saw significant EBITDA growth of 16%, underpinned by cost synergies, while Project Marlin investments ‑ which have now passed their peak level ‑ continued to improve our network infrastructure, delivering better resilience and speeds to our customers and carrying 104% and 42% more traffic on our mobile and fixed networks, respectively, compared to last year.

"Our strategy is delivering: smartphone take up increased 9 ppts to 50% and drove mobile data revenue growth of 18% against the prior year; in fixed networks, an additional 20,000 homes were passed with high-speed connectivity, driving 5% and 7% growth in broadband and video, respectively; in our B2B division, we are shifting our focus away from one-off IT and Government projects, towards building on-going relationships with our customers resulting in monthly recurring revenue (MRR) growth of 4% across our markets since the start of the year; and in networks, backhaul capacity for our customers has increased by 24%.

"Overall group year to date like-for-like revenue growth of 3% is solid. We continue to transform our business to become the region's leading quad-play operator, and I am confident that revenue growth will increase, as we build the platform for sustainable, profitable growth in the coming years."

At 12:18pm: (LON:CWC) Cable Wireless Communications Plc share price was -1.65p at 61.95p

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