LONDON, United Kingdom, Thursday May 26, 2011 – Telecommunications giant Cable & Wireless (C&W) is reporting that tough economic conditions in the Caribbean have resulted in further downturn in its business in the region, with the Jamaica market of particular concern.
In its annual results released yesterday, Cable & Wireless Communications Plc (CWC) said that while the group’s profits rose overall by 21 percent to US$462 million, Caribbean business declined by three percent.
CWC Chief Executive Tony Rice said the company has had to “navigate some choppy waters in the Caribbean”, which accounts for 30 percent of the group’s revenue.
“The Caribbean has been more difficult than we anticipated at the time of demerger (in March) and we continue to face weak or declining economies across the region,” Rice said.
ALL DAT PROFIT AND U ALL STILL CRYIN… I DO HOPE THAT PROFIT DECREASES SIGNIFANTLY!!!
The local image of LIME (i.e C&W) is more of a entertainment enterprise than a service company, with a general manager for ringmaster. Frankly, I would be more interested in lower charges and improved customer service than this excursion into fetes. Dominicans are not ignorant and realize full well that all this largesse is paid for out of profits made on the backs of subscribers. Please LIME, change direction before it is too late.
I am astonished to see the article,it’s 3%?? I am researching for a long time with Caribbean business and Literature but I have the other record of 2% of the declination by Caribbean business. So please inform me what i is really correct. It’s my research subject so if you can give me some info about Caribbean literature also.
No respect , on loyalty .Now that that the people of the Caribbean have options they will vote with feet..LIAT should pap heed
Yeah…the CARIBBEAN performance? What about THEIR service? Hmph stupes!
It’s time for this parasite to fall and disintegate it has sucked enough of caribbean’s people’s blood. i curse this jiant to fall. Does David have his sling and his stone?
C & W exploit the Caribbean islands for too long. They cannnot continue to
fool us Caribbean people or small islanders no more. Thank God for competition and open market.
People are a lot smarter and educated now.
That company make enough money on Caribbean people already!
lol … what they expected to happen when they were no longer the monopoly
Is it the economy or is it the competition and poor business strategies? Come on C&W! Lets face it. Caribbean people are are quick to adopt technology once it is offered and are snapping up the latest gadgets (even the expensive ones!) and generally trying to keep up with the developed countries and ways of the world despite the high costs and stick it to them mentality. C&W is not moving with the times; keep force-feeding some customers a diet they dont really like. Meanwhile Digicel has boosted its clientele, and has a strong loyal base. You have taken too much for granted all these years, C&W. You have to be more innovative if you want better business. But don’t blame it on the economy. People still have two or three phones, partly because your service is not good or economical enough! You will continue to bleed until you are properly responsive to the consumer and no amount of layoffs will stop that.
I Can see much thought havent gone into ur comment. You need to ease-up on the emotions and speak relatively to the topic…
I disagree with you on this one
The Caribbean served as C&W’s cash cow for numerous years. We see that even with a 3% decline in profits in the region, C&W was still able to reap substantial profits from the region. So, they really have nothing to complain about as the Caribbean continues to contribute significantly to C&W’s massive earnings, in spite of the poor service from that provider.