Cable & Wireless Communications Plc to Establish BTC Foundation on Bahamas According to BAC Report
29 Jan 2014 • by Natalie Aster
LONDON – Earlier in January Cable & Wireless Communications plc has announced an agreement to establish a charitable foundation (BTC) in collaboration with Bahamas government. BTC will have a 2% interest in CWC, therefore acquiring funds from dividends. The share is too small to give the foundation any real voting rights, but it is sufficient to provide required funding.
In FY2012/13 CWC was able to improve its performance and correct annual numbers. For the year ended March 2013 company’s revenue comprised USD 1.9 B (down 4%), gross profit lost 5% and equaled USD 1.2 B. Operating income, on the contrary, increased from USD 18 M to USD 192 M. Net income recovered from negative values and amounted to USD 19 M. Caribbean region brought 58% of all company’s revenues, while Panama and Monaco generated 30% and 12%, respectively. Mobile segment was responsible for 47% of total revenue, Fixed voice accounted for 23%, Enterprise, data and other segment contributed 20%, Broadband added 10%. Latest reported financial period, a semi-year ended September 2013, showed inspiring results. Revenue and gross profit amounted USD 935 M and USD 298 M, respectively. Operating and net income reached USD 105 M and USD 1 B, respectively.
Formed in 2010 and headquartered in London (UK), Cable & Wireless Communications engages in provision of telecommunication services. Companies under its control offer broadband, mobile, fixed line, television and enterprise services to private and corporate customers. Caribbean, Panama, Monaco and the Seychelles comprise regions of operations. CWC connects 42 countries with 42,000 km of sub-sea cables.
Further details on the company’s operations, business strategy, offerings, financial indicators, and experts’ forecasts can be found in the report “Cable & Wireless Communications Plc Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” recently published by Market Publishers Ltd.
Title: Cable & Wireless Communications Plc Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Jan, 2014
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