Cable & Wireless Communications on track for targets

Cable & Wireless Communications this morning said it was trading in line with forecasts, as it started to roll out a fibre network in its Barbados and Cayman markets.

The UK-based communications firm reiterated that its full-year earnings would be broadly similar to last year, as mobile data revenue grew strongly across the group.

Panama was a particularly sweet spot, with mobile service revenue up by five per cent, driving second half performance.

The British group said following the decision to sell its assets in Macau and Monaco, it had increased its investments in remaining markets in a bid to reduce costs and improve services in the long run.

This includes rolling out fibre in Barbados and Cayman to upgrade the fixed-line infrastructure.

"These and other initiatives will improve the efficiency and flexibility of the business and drive cost savings in future years which is critical as market conditions in the rest of the Caribbean remain difficult, particularly in the Eastern Caribbean and Barbados," the company said today.