Business
Cable &Wireless Jamaica revenues decline 2% to $ 233 million
Cable & Wireless Jamaica (LIME) saw its revenues decline by 2 percent to JMD 20.43 billion (US$ 233 million) in the year ended 31 March 2012. The revenue drop was mainly driven by a 6 percent decrease in fixed-line revenue as a result of a decline in subscriber base and usage. This was offset by increases of 3 percent and 12 percent in mobile and enterprise and data revenues, respectively.
Gross margin for the period increased by 3 percent to JMD 12.26 billion from JMD 11.94 billion (US$ 140 million from US$ 136 million) for the prior year. EBITDA increased by 38 percent to JMD 2.27 billion from JMD 1.64 billion (US$ 25.9 million from US$ 18.7 million) in the previous year, driven mainly by the reduction in operating expenses. Operating loss amounted to JMD 18.28 billion (US$209 million), versus a loss of JMD 2.6 billion (US$ 29.7 million) for the prior year.