Cable & Wireless Reports Growth in 3Q Earnings
11 February 2016 - 11:44PM
Dow Jones News
LONDON--Cable & Wireless Communications PLC (CWC.LN)
Thursday reported growth in third quarter earnings and revenue, and
said that it remains confident of delivering further revenue
growth.
The communications company operating in Latin America and the
Caribbean said earnings before interest, taxes, depreciation and
amortization for the three months ended Dec. 31, 2015, grew 16% to
$238 million and revenue was up by 1% to $595 million. Year-to-date
Ebitda was up 8% at $665 million and revenue rose 3% to $1.77
billion.
The company partly attributed the quarterly earnings growth to
cost savings and said that it remains on track to deliver total
savings of $125 million by the end of fiscal 2018, with $70 million
of operating cost synergies to be achieved by the end of the
current fiscal year.
"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," Chief Executive Officer Phil Bentley
said.
Shares at 1211 GMT trading 2.1% lower at 62 pence.
Write to Tapan Panchal at tapan.panchal@wsj.com
(END) Dow Jones Newswires
February 11, 2016 07:29 ET (12:29 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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