Cable & Wireless full year results to March 2009: strong cost control
20 July 2010
The UK and international businesses (now ‘Worldwide’ and ‘CWI’) are both continuing to perform well, despite weak revenue growth, thanks to strong cost control. Worldwide is now generating cash organically for the first time in memory
Performance at the newly-acquired Thus has been slightly below expectations, mostly due to increased customer churn. The sale of the ‘mid-market’ part of the business is a possibility
The market was disappointed by guidance for the new financial year. In our view it is both acceptable and achievable