Fixed-line minutes in the Caribbean fell 9 percent in the first quarter from the year-earlier period while average revenue per customer at the mobile business declined 8 percent, the company said in an e-mailed statement today. “In the face of this, we are accelerating and stepping up our cost-reduction programs,” it said.

Cable & Wireless sells voice, Internet and wireless networking services to consumers and businesses through its international unit for the Caribbean, Panama and Macau, and its worldwide unit for Europe, Asia and the U.S. The slowdown in the Caribbean is ”intensifying” in several economies and the local mobile business is also suffering from rising competition, the company said today.

The London-based company today reiterated a forecast for earnings before interest, taxed, amortization and depreciation of 1.025 billion pounds in the 12 months to March 31, based on an exchange rate of $1.50 to 1 pound.

Ebitda at the worldwide unit will probably rise by 32 percent to 430 million pounds, compared with a 6 percent increase to $935 million at the business in the Caribbean, Panama and Macau.

Cable & Wireless fell 0.7 percent to 129.4 pence at 8:04 a.m. in London trading.

“In the first quarter, our two businesses continue to make progress despite a more challenging economic backdrop,” Chairman Richard Lapthorne said. “In these conditions, focus on Ebitda, capital expenditure and cash remains paramount.”

Source