CWC sees sales rise as it battles through choppy economic waters

Cable & Wireless Communications (CWC) reported a two per cent rise in first-half sales in what it said was a mixed economic environment, and said its full-year expectations were unchanged.

CWC, which trades in a number of overseas territories including the Caribbean, the Maldives and Panama, said a strong performance in Macao and Monaco & Islands, however, had boosted its core profit by four per cent. In the first half, CWC’s revenue was $1.2bn (£738m) and earnings before interest, tax, depreciation and amortisation were $424m. CWC split from the former Cable & Wireless group this year.

The remaining business, now called Cable & Wireless Worldwide, services corporate and government customers.