CWC Caribbean end still in the doldrums
Thursday 10 February 2011
Cable & Wireless Communications said yesterday its Caribbean operations were suffering amid continuing economic woes, but it still expected broadly to meet forecasts for the year.
The telecoms group said it expects second-half underlying earnings to remain flat at around $115m (£72m). CWC, which also trades in Panama, Macau and Monaco, said that while tourist numbers were beginning to recover in the Caribbean many were on cheaper packages and were not spending freely. Operations were also disrupted by hurricanes, it said.
"We are bumping along the bottom," chief executive Tony Rice said.
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