Home / Markets / Industries / Telecom

Thursday, November 05, 2009

Cable & Wireless Going Ahead With Demerger

By Simon Kennedy

MarketWatch Pulse

LONDON -- Cable & Wireless said Thursday that its fiscal first-half net profit rose 45% to 120 million pounds from 83 million pounds and that it will go ahead with demerger plans. Revenue grew 13% to 1.86 billion pounds and earnings before interest, taxes, depreciation and amortization rose 30% to 463 million pounds. Analysts had expected EBITDA of 460 million pounds on sales of 1.95 billion pounds. "With the emerging signs of more settled conditions in the financial markets, the Board believes that the group is ready to separate into its two operating businesses, Worldwide and CWI and drive further value for shareholders," said Chairman Richard Lapthorne. "We are keen to push ahead as soon as possible and further details will be published before the end of November," he added.

Fox Business Video

- The Crisis With 20/20 Hindsight
- Nov 21, 2009
  
  FOXBusiness.com LIVE
- Jerry Rice Talks Career
- Nov 21, 2009
  
  NFL Receiver on career on the gridiron
- John O'Hurley as Venture Capitalist
- Nov 21, 2009
  
  Comedian on life as venture capitalist
- Excess Spending in Congress
- Nov 21, 2009
  
  Saving $100 Million
- Cavuto Business Report 11-20-09
- Nov 21, 2009
  
  Business Report: Cavuto