Profits up, revenue down at Cable & Wireless

Cable & Wireless (C&W) has posted better than expected half-year results today on the back of their move towards global provision of IP solutions for business customers, away from consumer telephony.

By editorial@silicon.com, 15 November 2000 11:42

NEWS Profits (pre-tax and excluding exceptional items) rose to £537m, about 10 per cent higher than analysts were predicting. Standard pre-tax profits rose by 33 per cent to £4.6bn while group turnover fell by 2 per cent. IP revenue rose 60 per cent on the back of rapid growth in the company's European businesses. C&W recently announced a major expansion of their network in Japan and the company's Australian division, Optus, announced earlier that it was inviting bids for its assets. By Nik Hole

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