Cable & Wireless Communications Posts Narrower FY15 Pretax Loss

Cable & Wireless Communications Plc CWIXF reported a narrower pretax loss for fiscal 2015. Cable & Wireless Communications posted a pretax loss of $1 million, versus a year-ago pretax loss of $98 million. Underlying profit before tax climbed to $267 million from $168 million. Net profit attributable to owners of the parent for the year declined 71 percent to $253 million, compared to $859 million in the year-ago period. EPS slipped to 9.7 cents from 34.3 cents. Its revenue climbed to $1.75 billion from $1.69 billion. EBITDA rose 7 percent to $585 million, while EBITDA margin climbed 1 percentage point to 33 percent. The company's board declared a final dividend of 2.67 cents per share. "We see good long-term growth prospects across Consumer, Business Solutions, and Networks businesses, underpinned by our differentiated submarine and terrestrial fibre networks and full service offering," Chief Executive Phil Bentley said. Cable & Wireless Communications shares fell 1.82 percent to close at $1.08 yesterday.