Despite double-digit growth for its subscriber base in Jamaica for year ending March 2014, Cable and Wireless Communications (CWC) saw its Jamaican revenue fall by more than US$30 million during the period, some of it linked to currency fluctuations.
CWC is the parent company for LIME.
At group level, CWC’s overall revenue declined by one per cent to US$1.87 billion, though mobile data revenue grew by 23 per cent.
Net profit from continuing operations showed strong growth – up by 45 per cent to US$148 million, before exceptional expenses.
The pattern was similar for CWC in Jamaica, where mobile business grew, but overall revenue was down. A high point for Jamaica was subscriber growth of 31 per cent to 705,000, said CWC’s financial report. Managing director of LIME Jamaica, Garfield Sinclair, said separately that the company added 165,000 subscribers.
Published in the Gleaner
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