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Cable and Wireless blames growing competition and weak demand in Panama

Friday, February 10, 2012

Cable and Wireless Communications warned on Friday that increasing competition and weak demand from corporate clients had hit its business in Panama.

The group said the Panama business had not progressed as planned.

It now expects core earnings for Panama for the second half of the year to be similar to the $127 million reported in the first half, putting it below the previously stated outlook range for the full year of $270 to $295 million.

Source: Reuters