BRIDGETOWN, Barbados, August 28, 2008 – Cable and Wireless (C&W) Barbados has recorded a 14 per cent net profit, that translates into a US$91.7 million after-tax profit, for the fiscal year ending March 2008.
According to the company, the results were driven by increases in mobile and broadband customer bases of eight per cent and 43 per cent respectively. This as President Donald Austin acknowledged that there was a decline in revenues from traditional services such as outgoing international calls.
The company said it had spent over US$50 million to upgrade and expand its mobile GSM network, pre-paid platforms and metro Ethernet network in 2007/2008and more than US$10 million in a Multi-Service Access Node (MSAN) project.
“The roll out of the Multi-Service Access Nodes project allowed for additional capacity to be provided for fixed line and broadband services to customers in several large catchments areas,” Mr Austin said, adding that over 18,000 customers have benefitted form that so far.
C&W also reported investing in initiatives to improve customer services, including call quality training, and moving forward with its e-Business plan to allow customers to purchase goods and services online.