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Cable and Wireless Communications profit boosted by smartphone use in Panama. Six-month net profit of $163 million

Thursday, November 3, 2011

Telecoms firm Cable and Wireless Communications said profit rose 9 percent in the first half, beating a consensus forecast, after receiving a boost from growing smartphone use in Macau, Panama, Monaco and the Maldives.

C&W Communications posted net profit before exceptional items of $163 million in the first six months of the year, compared to a forecast of $150 million from a company-supplied poll of 16 analysts.

The group, which traces its history back to British cable companies founded in the 1860s and which demerged from the former Cable & Wireless in March 2010, said it was on track for the full-year despite global economic uncertainty.

Original source: Reuters