CWJ suffers $2B loss over three quarters

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Cable and Wireless Jamaica's (CWJ's) financial woes have worsened with the telecommunications company suffering a $2 billion loss for the first nine months of its financial year.

The net loss for the three quarters ended December 31, 2009 was $2.1 billion compared with a $233 million loss for the corresponding period in 2008.

Cable and Wireless attributed the deterioration to increased financial costs associated with its network development and expansion as well as the 12% depreciation of the Jamaican dollar against the US currency.

There were more worrying signs for CWJ during the third quarter as the net loss suffered by the company totaled $351 million versus a $33 million profit for the corresponding quarter in 2008.

Revenue for the three months also dipped by $100 million to $5.7 billion.

Despite the challenging economic climate CWJ is patting itself on the back, claiming continued growth in internet and data revenues as well as maintained market share on its mobile operations.

However, its fixed line earnings continue to be impacted by anti-competitive practices which have forced the company to take legal action.

SOURCE

[jamtech]

Cable and Wireless Jamaica's (CWJ's) financial woes have worsened with the telecommunications company suffering a $2 billion loss for the first nine months of its financial year.


Despite the challenging economic climate CWJ is patting itself on the back, claiming continued growth in internet and data revenues as well as maintained market share on its mobile operations.

However, its fixed line earnings continue to be impacted by anti-competitive practices which have forced the company to take legal action.

SOURCE

Whats there to pat, should be worrying about survival. You are loosing customers rapidly.

Choices for LME to look at:
1. stick to data only, 2.throw away fixed line services, 3. sell out or 4. rap up operations.

If people playing dirty, sue them or you play dirty too.

No sympathy here though, you did have some glory days killing off consumers.....a giant is about to fall. A next one in line soon.

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whats there to pat, should be worrying about survival. You are loosing customers rapidly.

Choices for lme to look at:
1. Stick to data only, 2.throw away fixed line services, 3. Sell out or 4. Rap up operations.

If people playing dirty, sue them or you play dirty too.

No sympathy here though, you did have some glory days killing off consumers.....a giant is about to fall. A next one in line soon.

all they av to do is improve fixed lines/internet services.....introduce a set price for unlimited data package..maybe $2500 per month......that would take dem a long way

[Cultus]

They need to just sell out and leave Jamaica. I just hope that whom ever buys the business are capable of making the right decisions and turning things around. This present LIME management team in my opinion are nothing but clueless expats and immigrants who know nothing about a Jamaican market place. I hear rumors again of a possible line rental increase...now tell me if these people not losing dem head. I am royally convinced that they are still deluding themselves into believing that they are still a telecoms monopoly here in Ja. When you see a company making decisions like those it just shows that they are only trying to suck as much as they can like the vampires that they are before finally leaving the victim to fall and die... Don't get me wrong Digicel doing the same thing too.... but I guess I am expecting Lime to learn from the mistakes of its glory days...frankly it's too late for LIME now...yuh think 2Bil is all dem going to lose...what and see, Most Jamaicans are not psychologically bitter against LIME...after all what taste does a LIME leave in your mouth...especially an old rotten LIME..?

[Utech22]

I like Claro marketing strategy.

[Samwells]

maintained market share on mobile operations????

Is who dem think they fooling? Stewwpppsss

[jamtech]

I like Claro marketing strategy.

Really, I thought they were doing poorly in this department accroding to some people on here.......well I guess that was coming from the digi peeps.

CW falling because they behave bad as a monopoly, Digicel adapt the same attitude and they are sure in for the bitter pill very soon.

[tami23]

They need to just sell out and leave Jamaica. I just hope that whom ever buys the business are capable of making the right decisions and turning things around. This present LIME management team in my opinion are nothing but clueless expats and immigrants who know nothing about a Jamaican market place. I hear rumors again of a possible line rental increase...now tell me if these people not losing dem head. I am royally convinced that they are still deluding themselves into believing that they are still a telecoms monopoly here in Ja. When you see a company making decisions like those it just shows that they are only trying to suck as much as they can like the vampires that they are before finally leaving the victim to fall and die...

I totally agree with that Mgt comment I dont understand y they go thru so many changes and yet we cant see any improvement on their behalf, everyday in the newspaper u see some new appointment its beyond me

[jamtech]

I totally agree with that Mgt comment I dont understand y they go thru so many changes and yet we cant see any improvement on their behalf, everyday in the newspaper u see some new appointment its beyond me

Dont worry madam, the shoe will be on the other foot soon. We all knew you routing for. Tell your company to use sleep and mark death.

[ShadowWolfe Hellscream]

Only $2Bil? Thought it would've been alot more. Oh well this year just start so its not too late for them to rack up some deficit points...