Buy Rated Alert! Cable & Wireless Jamaica now elevated to Buy Buy rated from Market Watch based on the strong increase to subscriber base and mobile revenue growth.
Cable & Wireless Communications Plc is reporting that Cable & Wireless Jamaica continued its momentum in growing its mobile subscriber base, increasing by 23% in the December quarter last year over the last quarter of 2012. In a release to investors the UK listed aren’t company said, “Subscriber growth momentum in our Jamaica business was sustained and quarterly mobile service revenue rose 42% on the prior year in local currency”.
Cable & Wireless Jamaica stock traded on Wednesday, February 5th as high as 32 cents to record a gain of 100 percent for the year to date. However, the price, closed at 31 cents, a gain of 94 percent for the year-to-date and a new 3 year high.
IC Insider understands that between May and November, 250,000 new cellular customers were added to the network and new customers continue to be added at the same pace. In addition, the Christmas promotion went well with some phones sold out ahead of December and most of the phones sold involved data plans. Going forward, it will translate to billions of dollars in increased revenue per annum for the company.
At the close of trading on Monday, there were 5,147,967 shares on offer by Mayberry Investments at 32 cents to sell. The broker switched from selling and instead bought 5,000,000 units at 32 cents at the start of trading on Tuesday.
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[…] closed at a new 52 weeks high of 34 cents in reaction to news out of the UK parent company that mobile revenues had climbed 43 percent in the December 2013 quarter over that of […]