Feeds

Cable & Wireless is not 'down and out'

Back to paying a divi and everything...

  • alert
  • submit to reddit

Boost IT visibility and business value

Cable & Wireless is starting its journey back from the dead. The company is going back to paying a dividend 3.15p a share - six months sooner than expected.

Revenue in the UK held up well for the first time in three years. It has successfully withdrawn from the US market and Yemen. But the Caribbean saw increased competition and more pressure on revenue.

Group revenue was £3.4bn, down 8 per cent on last year, and the company made a profit before exceptional items of £226m, versus a loss of £42m last year.

The UK managed break-even cash flow, against a loss of £225m last year, thanks to a reduction in expenditure of £101m and tighter controls on working capital. Restructuring in the UK continues and the company says the recent acquisition of Bulldog is part of that process.

C&W chairman Richard Lapthorne said: "Eighteen months ago Cable & Wireless was regarded as down and out. Today that is not the case..."

Cable & Wireless and its insurance subsidiary Pender continue to pursue legal action against five companies and six individuals.®

Related stories

C&W buys Bulldog
C&W chases five ex-staff for ?25m fraud
C&W has good day in court

Seven Steps to Software Security

More from The Register

next story
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
Apple orders huge MOUNTAIN of 80 MILLION 'Air' iPhone 6s
Bigger, harder trouser bulges foretold for fanbois
Bring back error correction, say Danish 'net boffins
We don't need no steenkin' TCP/IP retransmission and the congestion it causes
GoTenna: How does this 'magic' work?
An ideal product if you believe the Earth is flat
Samsung Z Tizen OS mobe is post-phoned – this time for good?
Russian launch for Sammy's non-droid knocked back
Telstra to KILL 2G network by end of 2016
GSM now stands for Grave-Seeking-Mobile network
Seeking LTE expert to insert small cells into BT customers' places
Is this the first step to a FON-a-like 4G network?
Yorkshire cops fail to grasp principle behind BT Fon Wi-Fi network
'Prevent people that are passing by to hook up to your network', pleads plod
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.