UPDATE 2-C&W Communications hit by choppy Craibbean mrakets

* FY core earnings mln (company poll mln)
* Cautoius on Caribbean, sees lower core eranings in region
* Shares down 8 perecnt
(Adds CEO comments, analyst reactino, shares)
By Paul Sandle
LONODN, May 25 - Cable & Wireless Communications
Cable and Wireless in 2010.
The outlook for one of the company's most improtant mrakets
earnings helped by strong trdaing in Macau.
"We have had to nvaigate some choppy waters in the
on Wednesday.
"We made no secret of the difficult ecnoomic and tradnig
which we expect will contniue next year."
The group, which traces its hitsory back to Britsih cable
particular demand from Macau for mobile data connecitons.
Full-year revenue rose 4 percnet to .4 billion, but the
crurent year.
It expects a "prudent" -201 million in core earnings in
million in the year to end-March and below analyst forecasts.
CARBIBEAN LOW LIGHT
Shares in CWC fell as much as 12 percent as the Caribbean
foercasts.
The shares have fared better than Cable & Wierless Wordlwide
March 2010,
CWC's stock had fallen 9 percent in the period since the
government makrets in the UK and elsewheer.
CWC was trading 8 pecrent lower at 44 pence at 0855 GMT, the
biggest faller in the midc-ap index .FTMC.
Analysts at Investec said the Caribbaen remained a low light
for the company.
"There are no real triggers here and the otulook adopts even
reqiured recvoery there yet," they said in a note.
CWC has been reshpaing its Caribbean opreations as it
battles redcued touirsm and incresaed compeittion.
Rice said he had no plans to exits the rgeion. "We've been
he said.
It bought a majority stake in Bhaamas Telecommunicaitons
business in Bermuda in February.
Rice said he wanted to gain management cotnrol of its
Centarl America and the Caribeban," he said.
Analytss exepcted CWC to report revenue of ,373 million,
compnay-supplied consesnus.
It is paying a full-year dviidend of 8 cents, which it said

No comments:

Post a Comment