Cable & Wireless results down following demerger

Full-year revenue down four per cent - profits down 2.8 per cent

Network services provider Cable & Wireless' full-year results will not derail its earlier demerger

Network services provider Cable & Wireless has posted its full-year results to 31 March 2010, with revenue down just over 4.1 per cent at £1.6bn.

Profits before tax were also down 2.8 per cent at £263m, but the results were the company's first since its demerger on 26 March.

The demerger led to the formation of Cable & Wireless Worldwide (CWW) and Cable & Wireless Communications (CWC).

Sir Richard Lapthorne, chairman of C&W Communications plc, said: “In March, we successfully completed the demerger, a culmination of the work we commenced in 2006. We still face challenges, but we have good market positions.”

CWW services global corporate firms, while CWC has a focus on Caribbean markets, together with Macau and Panama.