“Respectable” performance for CWC in first half of 2012

08 November 2012 |


Cable & Wireless Communications (CWC) has reported a 2% rise in EBITDA during the first six months of 2012.

The company also revealed that its mobile revenue grew by 9% during the period, driven by a mobile data revenue growth of 36%, in its half year report.

The company’s CEO, Tony Rice, labelled the performance “respectable” in light of a “challenging period for the telecoms industry as a whole”.

He said the company had made progress with its strategy to reshape the business. In August, the company sold its controlling stake in African VSAT enterprise business Afinis Communications and satellite provider SkyVision.

The company has confirmed it is in discussions to sell its Monaco & Islands and Macau business units, with Batelco being linked to the former and CITIC Telecom International being linked to the latter.

“These steps are in line with our stated plan to focus our management capability and future investment on the pan-American region where we have scale, synergy and strong market positions as well as several growth opportunities,” said Rice.