Cable & Wireless Reports Growth in 3Q Earnings

LONDON--Cable & Wireless Communications PLC (CWC.LN) Thursday reported growth in third quarter earnings and revenue, and said that it remains confident of delivering further revenue growth.

The communications company operating in Latin America and the Caribbean said earnings before interest, taxes, depreciation and amortization for the three months ended Dec. 31, 2015, grew 16% to $238 million and revenue was up by 1% to $595 million. Year-to-date Ebitda was up 8% at $665 million and revenue rose 3% to $1.77 billion.

The company partly attributed the quarterly earnings growth to cost savings and said that it remains on track to deliver total savings of $125 million by the end of fiscal 2018, with $70 million of operating cost synergies to be achieved by the end of the current fiscal year.

"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 Officer Phil Bentley said.

Shares at 1211 GMT trading 2.1% lower at 62 pence.

Write to Tapan Panchal at [e-mail]

(END) Dow Jones Newswires

February 11, 2016 07:29 ET (12:29 GMT)

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