Cable & Wireless Communications to meet full year expectations

Cable and Wireless Communications, which owns telecoms operators, has maintained the guidance given at the full year, saying group EBITDA will be similar to 2011/12.

In addition, it expects capital expenditure of around $350m for the full year ending March 31st 2013, with cash exceptional costs coming in between $30m and $35m. Dividend guidance for the full year is for four cents a share.

Tony Rice, Chief Executive of Cable & Wireless Communications, said: "We have delivered a respectable performance in the first half. Despite a challenging period for the telecoms industry as a whole, our group has posted a balanced performance, with EBITDA [earnings before interest, tax, depreciation and amortisation] rising 2%."

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For the six month period revenue fell slightly to $1.43bn from $1.44bn, while pre-tax profits rose to $164m from $145m for the first half a year before.

Interestingly, mobile revenues grew by 9%, including mobile data revenue growth of 36%.

Total net debt at September 30th 2012 was about $1.59bn, compared with $1.39bn as at March 31st 2012.

It has declared an interim dividend of 1.33 cents a share.

CM