C&W: Targets will be met

24-01-2008

C&W: Targets will be met
Cable & Wireless (C&W), the international communications company, has said that it will achieve growth targets in its interim statement today.

"I'm pleased to report that we are well on our way to delivering the EBITDA [Earnings Before Interest, Taxes, Depreciation and Amortization] targets we announced at our interim results," said Richard Lapthorne, chairman of Cable & Wireless.

"Consequently we confirm our intention to recommend a full year dividend of 7.5p per share, representing a growth of 28 per cent."

The telecoms firm said that EBITDA for the financial year to March 31st 2008 was expected to be between £585 million and £610 million, representing prospective growth of 19 and 24 per cent respectively, beating forecasts.

The UK's second-largest telecoms business, which runs two business units composed of an international division and Europe, Asia, and the US (EAU), did not provide any hard details of customer sales or business expenses.

Analysts suggested that the 2006 split of the recovering company into separate EAU and international divisions increased the possiblity of a demerger. Although the firm said the move had not been ruled out, it said it did not have any plans to do so.

The phone carrier and broadband provider's share price has increased 2p, or 1.28 per cent, to 158.50 on word of the news this morning.

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