LONDON, Feb 8 (Reuters) - Cable & Wireless Communications said it had started to roll out a fibre network in its Barbados and Cayman markets as part of its new strategy to focus on the pan American region.
The British group said following the decision to sell its assets in Macau and Monaco, it had increased its investments in remaining markets in a bid to reduce costs and improve services in the long run.
This includes rolling out fibre in Barbados and Cayman to upgrade the fixed-line infrastructure.
“These and other initiatives will improve the efficiency and flexibility of the business and drive cost savings in future years which is critical,” it said, explaining that market conditions in the rest of the Caribbean remained difficult, particularly in the Eastern Caribbean and Barbados.
The group said under the new plan, it expected full-year earnings to be similar to last year, after an increasing take up of smartphones in markets such as Panama helped the group to trade in line with forecasts.
The group said it had continued to lead the market in Panama, with the adoption of smartphone data plans helping the group to grow mobile service revenue by 5 percent. It increased its mobile subscriber base in Jamaica by 40 percent and its performance in the Bahamas was described as solid.