Cable & Wireless Communications 1st Half Revenue Rises
November 05 2015 - 3:14AM
Dow Jones News
LONDON-- Caribbean-focused telecommunications group Cable &
Wireless Communications PLC (CWC.LN) fell to an interim pretax loss
amid finance expenses related to its acquisition of Columbus
Communications but revenue was higher.
The company Thursday reported a pretax loss of $1 million for
the six months ended September 30, against a $132 million profit
the previous year, on group revenue up 4% at $1.2 billion.
Earnings before interest, tax, depreciation and amortization was
up by 4% at $427 million, CWC said.
The company said it is not declaring an interim dividend
following its announcement last month that it is in discussions
about being bought by telecoms giant Liberty Global PLC (LBTYA),
but will pay one if the deal does not go through.
CWC said it now expects to make savings of $125 million from its
Columbus acquisition, up from a previous target of $85 million.
-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 05, 2015 02:59 ET (07:59 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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