Cable & Wireless International (CWI), the
world's leading full service telecoms provider for small to medium
markets, today announced its third consecutive six-month period of
revenue growth, with growth in mobile and broadband outstripping
declines in fixed line voice services.
Revenue increased 7% to US$1,211 million, with
mobile revenue up 20% to US$436 million and broadband revenue up
33% to US$88 million. Earnings before interest, taxes, depreciation
and amortisation (EBITDA) increased 6% to US$398 million.
CWI also confirmed mobile customers grew nearly
1.5 million to more than 5.7 million and broadband customers
increased 30% to 439,000.
Commenting on the half-year results, Richard
Dodd, Chief Executive, Monaco & Islands, said:
"Our new mobile services in Jersey and the Isle
of Man are progressing to plan and we maintain our market
leadership position in mobile and broadband in Guernsey. Since
launching Sure in the Isle of Man in July, we have managed to
secure 10% of the mobile market."
"We are investing over £40 million to
revolutionise communications on Guernsey, Jersey and the Isle of
Man, as the only telecoms provider serving these three financial
centres."
CWI's key milestones for the six months to 30
September 2007 include:
- CWI is the market leader in 19 of the 26 mobile
markets in which it operates. In June 2007, it launched in the
British Virgin Islands achieving a 41% market share in just four
months, while in July 2007 it launched new mobile services in the
Isle of Man, making CWI the only telecoms provider serving the
financial centres of Guernsey, Jersey and the Isle of Man.
- CWI is the retail market leader in all 26
broadband markets in which it operates. The introduction of a
portfolio minimum standard broadband offering of 1Mbps provides the
platform to upgrade to an 8Mbps capability during 2008.
- In Panama, CWI substantially grew its revenue
and profits. It also further increased its mobile market leadership
position, recording a 65% year-on-year rise in customers from
789,000 to 1.3 million.
- In Macau, CTM maintained its strong performance
increasing revenue and profit. It grew its mobile and broadband
customer base by 19% and was the firstto market with the launch of
3G services in June.
- In the Caribbean – where broadband customers
grew 43% to 180,000 – CWI introduced a new single broadband brand
and streamlined its consumer and business packages from 79 to six,
offering higher speeds at lower costs.
- In Jamaica, the new Chief Executive – appointed
in August 2007 – and his new senior management team began to
implement an action plan focused on improving customer care,
service quality, channels-to-market, products and pricing.
- In Monaco, the re-negotiation of the licence
agreement was successfully completed in September. This followed a
re-brand of Monaco Telecom and the launch of a new retail 'look and
feel'. Monaco Telecom also launched a guaranteed 15 Mbps broadband
product.
- Capital expenditure increased 14% to US$161
million, over 70% of which was invested in mobile and broadband
infrastructure including network expansion in Panama, Monaco and
the Caribbean, plus the launch of 3G services in Macau.
CWI has almost 8,000 employees and ensures that
its businesses are predominantly managed by local people. CWI's aim
is to be the telecoms provider of choice in all of its markets by
offering its customers simple to use, innovative and value for
money services.
Geoff Houston, Chief Executive for Cable &
Wireless in the Channel Islands & Isle of Man, commented:
"These are excellent interim results and a good
indication that our business is both efficient and profitable. I'm
confident that the new Sure brand now being used in all three
islands will help us to continue focusing on great customer
service, innovation and increased value."