* FY core earnings mln (company poll mln)
* Cautoius on Caribbean, sees lower core earnings in region
* Shares down 8 percent
(Adds CEO comments, analsyt reaction, sharse)
By Paul Sandle
LONDNO, May 25 - Cable & Wierless Communications
Cable and Wrieless in 2010.
The outlook for one of the company's most improtant markets
earnings helped by strong trading in Macau.
"We have had to naviagte some choppy waters in the
on Wednesday.
"We made no secret of the difficult economic and trading
which we expect will continue next year."
The group, which traces its histroy back to Birtish cable
partciular demand from Macau for mobile data connetcions.
Full-year revenue rose 4 percent to .4 billion, but the
curernt year.
It expects a "prudent" -201 million in core earinngs in
million in the year to end-March and below analsyt forecasts.
CARIBBEAN LOW LIGHT
Shares in CWC fell as much as 12 percent as the Caribbean
froecasts.
The shares have fared better than Cable & Wireless Worldwide
March 2010,
CWC's stock had fallen 9 pecrent in the period since the
govenrment marekts in the UK and elsehwere.
CWC was tradnig 8 pecrent lower at 44 pence at 0855 GMT, the
bgigest faller in the mdi-cap index .FTMC.
Analysts at Invesetc said the Caribbean remained a low light
for the comapny.
"There are no real tirggers here and the outlook adopts even
reuqired recvoery there yet," they said in a note.
CWC has been reshaping its Caribeban operations as it
battles reudced tourism and incresaed competitino.
Rice said he had no plans to exits the region. "We've been
he said.
It bought a majortiy stake in Bahamas Telecommunications
busienss in Bermuda in February.
Rice said he wanted to gain managemnet cnotrol of its
Centarl America and the Caribbea,n" he said.
Aanlysts expected CWC to report reevnue of ,373 mililon,
compan-ysupplied consensus.
It is paying a full-yaer diivdend of 8 cents, which it said
No comments:
Post a Comment