UPDATE 2-C&W Worldwide happy with consensus, momentum builds

* H1 revenue in line, pretax profit ahead of forecast

* Says comfortable with full-year expectations

* Shares rise 2.7 percent

(Adds shares, analyst comment, background)

LONDON, Nov 16 (Reuters) - British telecoms firm Cable & Wireless Worldwide CWP.L said it was comfortable with full-year expectations as the dust settled on a UK public-spending review, lifting its shares on Tuesday.

C&W Worldwide (CWW), which concentrates on the global corporate market and has a large presence in Britain, said first-half results were in line with or ahead of its own consensus polls. The group posted revenue down 1.6 percent to 1.12 billion pounds ($1.79 billion) and said momentum had picked up towards the end of the six-month period.

EBITDA (earnings before interest, tax, depreciation and amortisation) was in line with expectations, up 4.4 percent to 214 million pounds. Pretax profit at 53 million pounds was comfortably ahead of a forecast 40 million pounds.

“Overall we remain comfortable with full-year expectations,” Chief Executive Jim Marsh said in a statement.

Shares in CWW rose 2.7 percent to 70.95 pence by 0903 GMT, the top gainer in Europe's telecoms index .SXKP, which fell 0.8 percent.

Liberum Capital telecoms analyst Mark James said the results were in line but highlighted the fact the company still did not generate free cash flow.

CWW said the strong finish to the first six months had given it good momentum going into the second half of the year and that a Memorandum of Understanding it had with the British government would help build its presence in this market.

Britain last month announced 81 billion pounds in public spending cuts, the toughest in a generation. [ID:nLDE69J0G8]

CWW is expected to make revenue of 2.22 billion pounds and EBITDA of 442 million pounds this year, according to StarMine SmartEstimates, which weights analysts’ forecasts according to their past accuracy.

Larger British rival BT BT.L last week reported a sharp improvement at its multinational IT services unit, Global Services, and raised its full-year outlook. [ID:nLDE6A91QY]

($1=.6274 Pound)


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