[xml][/xml]
The Bahamas Weekly Facebook The Bahamas Weekly Twitter
News Last Updated: May 7, 2015 - 7:57:38 AM


CWC Annual Results Published: Bahamas a ‘Strong’ Performer
May 24, 2012 - 5:03:09 PM

Email this article
 Mobile friendly page
Screen_shot_2012-05-24_at_2.04.04_PM.png
BTC’s parent company, Cable & Wireless Communications (CWC), announced its annual results for the 2011/12 year today, the first time the company's performance included  a contribution from BTC, the local telecom which CWC formally acquired a majority share in April 2011, at the start of CWC’s financial year.

The parent company announced that BTC had delivered a solid financial performance fuelled in part by a successful commencement to the restructuring of the company and BTC's exclusivity in the mobile space. BTC ended the fiscal year with total revenue of $352 million and an EBITDA (Pre-interest and tax earnings) of $91 million.

“BTC is pleased that we have been able to deliver strong numbers in the first year,” stated Geoff Houston, BTC CEO. “It is indicative of the tremendous effort of the entire BTC team to ensure that we continue to move the business forward with significant investments in our infrastructure and customer service improvements.”

CWC's published results indicated that good progress had been made in developing the business over the past 12 months with improved efficiency, a new 4G mobile network and improvements in customer service and experience including the refurbishment of several of BTC’s stores. CWC also confirmed that BTC would seek to build on the successful first year, stressing increased customer service and company performance to prepare for the introduction of competition in 2014, and allow it to make required future investments.

“The truth is that we cannot be complacent or dare I say even comfortable with the results from the first year,” added Houston.  "As we have been telling our BTC colleagues in our team meetings across the country, we still have a tremendous advantage by being the only mobile operator and this exclusivity is scheduled to disappear in early 2014. So while we acknowledge the positive results, BTC still has much to do to better manage its non-staff costs, to fulfill its commitment to lower rates and prices, and to improve the entire customer experience ahead of mobile competition. It is our success at these elements that will build the foundation for sustained success of BTC.”

Bookmark and Share




© Copyright 2012 by thebahamasweekly.com

Top of Page

Receive our Top Stories



Preview | Powered by CommandBlast

News
Latest Headlines
2016 Labour Force Survey - May
NEMA Gets Medical Equipment for Crooked Island Clinic
Grand Bahama Regatta & Homecoming on This Weekend!
Team Bahamas Ready for CAGC next week
Waterkeepers Bahamas and Save The Bays applaud Disney for shelving Egg Island plans
Buddy Hield, Welcomed Home
BNT on Disney's decision to abandon development of Egg Island
Couple Seeks to Break Underwater Kissing Record
NASA’s Hubble Telescope Makes First Atmospheric Study of Earth-Sized Exoplanets
Ministry of Foreign Affairs Addresses Passport Application Backlog for Grand Bahama and Family Islands
BAMSI hosts Extension Programme
Activist group gears up to use Facebook to push for Bahamas Sex Offenders Registry and Marco Alert
Balearia Caribbean Upgrades to Jaume 1: Arrives in Grand Bahama with 500 passengers
Bahamas 43rd Independence Celebrations in London
PM called on to release Rubis leak review
Honorary Consul and Bahamas Tourism Lend Support to Scholarship Event
Exuma Students Visit Atlanta
Jeffrey Lloyd: Bahamas a Failed State if the Status Quo Remains
Secretary-General: We will turbo charge Commonwealth trade advantage
Hon. Fred Mitchell on Passing of Rev Irvin Clarke
Junkanoo Summer Festival heats up! Groups compete for best choreography prize
Bazard Promotes Regional Cooperation Against De-Risking at Antigua Conference
University of the West Indies to Launch Global Giving Week
Bahamas Hosts 43rd Anniversary of Independence Reception – Geneva, Switzerland
The Bahamas Flag to be raised at Miami's City Hall
University of The Bahamas ‘System’ Would Have Campuses Throughout the Country
Contract Signed for Andre Rodgers National Baseball Stadium
Bahamas Ministry of Tourism Meets With National Development Plan Officials
Bahamas Minister of Financial Services speaks on UNCTAD 14
RBDF introduces Military Police K-9 UNIT
China's Ambassador calls on Bahamas Minister of Health
Government to Explore Economic Opportunities in China for Bahamians - through Culture
BAMSI hosts Inaugural Agricultural Extension Training Programme
Law Reform and Revision Committee Briefs Financial Services Minister on Investment Funds Act Overhaul
U.S. Embassy Donates Court Reporting Equipment to The Bahamas
Bahamian students participate in Chicago dance experience
Urban Renewal Summer Basketball League Official Launch
Miss Bahamas National Costume Highlights
RBDF Conducts Aerial Drone Training Exercise
Youngsters learn discipline through culture at Centreville Urban Renewal Summer Programme