11th Feb 2016 12:27
LONDON (Alliance News) - Cable & Wireless Communications PLC on Thursday reported increases in third-quarter revenue and Ebitda and across the first nine months of its financial year, ahead of its acquisition by Liberty Global PLC.
The FTSE 250 telecommunications company, which has operations in the Caribbean and Central America, said revenue amounted to USD595 million in the quarter ended December 31, up 1%. On a like-for-like basis, at constant currency and excluding Sonitel, revenue rose by 3%. In the first nine months of the financial year, revenue amounted to USD1.77 billion, up 3% on both measures.
Third-quarter earnings before interest tax, depreciation and amortisation amounted to USD238.0 million, up 16%. Cost savings drove margins five percentage points higher to the 40% mark. Across the nine-month period, Ebitda rose 8% to USD665 million.
"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 Phil Bentley said.
Completion of the GBP3.60 billion takeover by Liberty Global is expected in the second quarter of calendar 2016, with regulatory processes ongoing.
Shares in Cable & Wireless were down 2.2% at 62.20 pence after the announcement on Thursday.
By Samuel Agini; [email protected]; @samuelagini
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