BUSINESS MONDAY: CWC’s performance during first quarter improves

IN SPITE of some setbacks in some of its Caribbean markets because of economic conditions, Cable and Wireless Caribbean (CWC) said it has been able to deliver a solid first quarter 2016/2017 performance as the organic changes for all of its fixed and mobile product categories improved.

 

CWC said that in its mobile business, which represents roughly 40 per cent of total revenue, the total base increased by 148 000 subscribers or four per cent year-over-year to 3.7 million.

 

“This performance was led by a 21 per cent increase in subscribers who purchased a data plan,” the telecommuni-cations company said.

 

Mobile data penetration now stands at 53 per cent of the total subscriber base, up two percentage points from 51 per cent at March 31, 2016.

 

CWC has noted that it added 14 000 subscribers in the fixed-line business during the quarter ended June this year. 

 

According to CWC, “We reported 5 000 broadband net additions.”

 

From a regional standpoint, CWC said that the Caribbean declined as a result of increased competition and a challenging economic environment.

 

“However, we are working to mitigate these factors by revamping product offerings in the Caribbean markets,” it said, noting the launch last month of the Flow Sports Premier channel.

 

Panama mobile subscribers declined one per cent, although there were other positives in that market.

 

In The Bahamas, CWC said they experienced relatively flat broadband and fixed voice performance, but there are plans to launch a video product during the second quarter.

 

Both broadband and mobile subscribers continued to expand in Jamaica.

 

However, CWC said that increased competition and challenging macroeconomic environments in Barbados and in Trinidad and Tobago led to reduced video subscribers, although they are seeing encouraging results from recently launched fixed bundles in Trinidad and Tobago.