News
June 1, 2007
Strong growth in the Eastern Caribbean

Cable & Wireless International (CWI), the world’s pre-eminent telecoms provider for small to medium markets, today announced a 44% increase in mobile customers*, passing the five million milestone for the first time, as of the end of its financial year on 31 March 2007.

CWI also confirmed its leadership in all 26 markets in which it provides broadband services, with customers up 39% to more than 400,000.##M[more]##

Total revenue increased 7% on a constant currency basis to £1,228 million, with mobile revenue up 19% to £406 million and broadband revenue up 45% to £77 million. Operating profit rose 6% to £277 million**.

Commenting on the results for 2006/07, CWI Chief Executive Officer, Harris Jones said: “As the leader in nearly all of our markets offering mobile, broadband and fixed line services, we aspire to be the telecoms provider of choice by offering our customers attractive products and a superior customer experience.

“We exit this year stronger than we began and have set the foundations for an even better performance in 2007/08 across the 33 countries in which we operate.”

Chris Hetherington, Chief Executive, Americas & Caribbean, said: “Our businesses in the East Caribbean grew strongly during the year, with mobile and broadband customers increasing by 34% and 42% respectively. I am also pleased to confirm that we have just taken mobile market leadership in Grenada, which now means that Cable & Wireless is the leader in 20 out of the 24 mobile markets in which we operate.”

CWI’s key milestones for the financial year to 31 March 2007 include:

Macau delivered a strong performance, with CTM maintaining mobile market leadership against a fourth competitor and increasing its broadband customers by 38%.

CWI’s mobile customer base in Panama exceeded one million for the first time, driven largely by network enhancements and compelling marketing programmes.

Leader in 20 of the 24 mobile markets in which it operates, having recently regained leadership in Grenada. Jersey was launched in September 2006 and the Isle of Man is scheduled for the Summer of 2007, which will make CWI the only telecoms provider serving the offshore financial centres of Guernsey, Jersey and the Isle of Man.

Jamaica made significant inroads during the year, almost doubling its broadband customers and increasing its mobile customers by 47%.

Capital expenditure increased 25% to £168 million. The focus is on extending CWI’s mobile networks and ensuring that 90% of the broadband network is capable of offering at least 8Mbps by December 2007.

CWI has nearly 8,000 employees and ensures that its businesses are predominantly managed by local people.

CWI also continued to develop its well-established charitable foundations. These have long made a material difference in the many communities CWI serves around the globe. Examples include providing scholarships over the last 10 years to needy secondary and tertiary school students valued at over $750,000 and organizing an annual Internet Summer School programme for primary school students in St. Lucia, donating more than 1,000 computers and free broadband connections to 108 schools in Jamaica; a commitment to contribute US$1 million per year until 2009 to Panama’s ‘Digital Alphabetisation Fund’, which has already provided nearly 3,700 wireless computers in rural schools; and providing 100 refurbished computers and 200 free Internet connections to members of Macau Mentally-disabled Families Association and Macau Deaf Association.

* 60-day active GSM customers

** Operating profit before exceptionals and joint ventures and associates