LONDON-Cable & Wireless Communications reported revenues for the fiscal year ended March 31 of $4.3 billion, an increase from the $3.7 billion reported for 1998. The company had net earnings of $229.2 million, or $1.47 per share, compared with a net loss of $80.2 million, or 52 cents per share, for the previous year.
Greg Clarke, Cable & Wireless Communications’ chief executive, said all four of the company’s business units secured revenue growth for the first time.
“Underlying operating costs have been driven down to just 22 percent of revenues despite a 29-percent increase in volumes,” said Clarke. “During this year, our entire national and local network will be Internet protocol-capable.”
