Jamaica, mobile subscribers grew by 125,000 during the April to September period, according to CWC Communications, the parent company for Cable & Wireless Jamaica.
At the end of March, Cable & Wireless Jamaica (CWJ) stated that they had 705,000 mobile customers. The increase since March, puts active mobile customers at roughly 830,000, by the end of September. At the end of June this year, Mobile subscriber base increased by 37 percent with revenue increasing by 34 percent, broadband base increased by 12 percent with revenue up 39 percent. The continued strong growth in mobile customers is resulting in increased revenues for the local company, moving them closer to a break-even point.
CWC Communications in their release of their September quarter’s report that “in our LIME Caribbean businesses, mobile revenue grew 6 percent on a reported basis and 8 percent at constant currency, with Jamaica up 24 percent and continuing to gain market share (5 ppts) as we invest to deliver improved services for our growing customer base. In Jamaica mobile traffic increased by 34 percent and mobile service revenue is up 38 percent at constant currency.”
The stock which traded as low as 25 cents on Wednesday traded 7,481,913 units between 28 cents and 32 cents by Mid day. The change in demand is most likely tied to the news that CWC acquired the Flow operations, which will be seen to have positive implications for CWJ going forward.
CWJ has been BUY RATED by IC Insider from early this year on strong mobile growth and reduced cost.
C&WJ strong mobile growth continues
November 6, 2014 by
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