Cable & Wireless trades in line with forecasts

City A.M. Reporter
TELECOMS firm Cable & Wireless Worldwide posted full-year results in line with forecasts and said it was confident it would meet expectations for cash and earnings generation as conditions improve.

The former Cable & Wireless group split earlier this year into CWC – focussed in the Caribbean, Macau and Panama – and Cable & Wireless Worldwide, which concentrates on the international corporate market and has a large presence in Britain.

It posted revenues of £2.27bn compared with analyst forecasts of £2.26bn.

C&W Worldwide, which provides managed voice, data and IP-based services, said it aimed to grow its presence in the UK mid-market after its acquisition of Thus in 2008.

Analysts expect it to also expand overseas, particularly in Asia.

"Market conditions are improving and we are experiencing good momentum in our core business segments and key areas of future growth, both in the UK and globally," it said.

Worldwide, which currently provides connectivity to 153 countries, has clients including Tesco.