The Bahamas Weekly Facebook The Bahamas Weekly Twitter
News Last Updated: Jun 20, 2014 - 5:05:44 PM


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

Email this article
 Printer 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

News
Latest Headlines
Bahamas Heads of Mission Diplomats Welcomed at Official Reception
Bahamian from Exuma Returns from Amsterdam Space Camp
Bahamian Students Urged to Stand Up For Their Rights
Bahamas Tourism Launches Agressive Ad Campaign In Canada
Tribute to Bahamas Olympic Gold Winners, Sir Durward and Cecil Cooke
Bahamas 15th Annual Public Service & Recognition of Retirees Week Awards Presentation
New non-stop service from Western Canada to Freeport
Bahamas Girl Guide Leaders Thanked at 100 Year Celebration
Fred Mitchell Remarks at the Official Opening of Diplomatic Week
Dr Josephine Ojiambo as Deputy Secretary-General (Political) at the Commonwealth Secretariat
Minister Mitchell on Bahamas Immigration Regulatory Changes
Bahamas Establishes Task Force to Focus On Ebola Awareness
Bahamas: Ship from Africa Ebola threat dismissed
New Bahamas Research Gives Insight Into Teen Aggression In Relationships
Bahamas Tourism officials visit Vancouver, Canada to launch weekly Sunwing flights
Vote For Your Favourite Bahamian Musician
Contract Signed for Completion of Grand Bahama Arts and Crafts Center
Dame Marguerite Honoured in London
Co-operatives Balance People, Planet, and Profit
PM Speaks at Statoil Expansion; Mentions GB Ebola Procedures
U.S. State Department Issues Worldwide Caution
VAT Family Island Clinics to Begin
"Nygard’s Attorney Letter Branded ‘Pathetic Smoke Screen’"
Baha Mar Eco-Reef Attracts Renewed Marine Life
Young Bahamian Entrepreneur Innovates in Atlanta
Canada's Prime Minister Statement on Attack in Ottawa
Minister Darville Aims to Improve Grand Bahama Medical Infrastructure
IBA publishes business and human rights guidance for bar associations and lawyers
CDEMA On the Threat of Ebola Virus to the Caribbean Region
100 Haitian Migrants Apprehended in Harvey Cay, Exumas
Bahamas Out Island Arrivals Improve
E. Clement Bethel National Arts Festival / Exhibition 2014 Opens
Florida couple ecstatic about winning Bahamas dream wedding In Abaco
New Media Guidelines in Place for Bahamas Government House
Bricemae Gibson ‘Employee of the Year’ at Bahamas Ministry of Works and Urban Development
Culinary Fusion Expo returns to Grand Bahama, November 8th
Bahamas Festival‏ Celebrates International Culture
Manhunt Bahamas announces 2014 winners
Bahamian officials apprehend 2 Dominican fishing vessels
Ebola Statement by Bahamas Ministry of Health