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Pre-paid fixed line drained C&WJ's revenue |
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Written by jamaicaobserver.com
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Wednesday, 23 July 2008 |
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Cable and Wireless Jamaica (C&WJ) was scolded by its parent for shrinking revenues by J$2.03 billion in its fixed line division - the move coincided with the departure of Rodney Davis.
The figure is actually equal to the entire profit that C&WJ made in its 2006/7 year. C&W plc, like an unhappy parent, cursed the Jamaica operations calling it a disappointment.
"Jamaica was a disappointment, although in the second half, with new management, we saw a noticeable improvement in its performance," said John Pluthero, Executive Chairman International, in the company's March 31, 2008 report. Phil Green replaced Davis as head of C&WJ.
Pluthero was upset because the Jamaica operations pulled down the performance of the international division, most notably Jamaica's domestic voice revenues.
"Domestic voice revenue fell by US$37 million to US$541 million. US$29 million (J$2.03 billion) of this reduction was in Jamaica relating largely to the poor performance of a prepaid fixed line product which we withdrew from the market in July 2007," said the C&W plc executive in its latest annual report... full article |
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