Cable & Wireless sees mobile growth

City A.M. Reporter
CABLE & Wireless Communications said yesterday its mobile services returned to growth in the first half, driven by the popularity of mobile data in its biggest markets of Panama and the Caribbean.

In his last set of results before he hands over to Phil Bentley, formerly of British Gas, chief executive Tony Rice said the bounce back in mobile put the group on track for the year.

“We have mobile growth across all regions, and we’ve made a good start in getting $100m (£62.1m) of costs out of the company,” he said.

First-half core earnings of $298m, up three per cent, beat average forecasts of a flat result and sent the shares to a two-year high of 48.3p.