Cable & Wireless Communications (CWC) nudged a profit during the first six months of its current fiscal year, helped by significant gains in international business.
The UK telephony, cable TV and Internet access provider reported a net profit after costs of #65 million for the six months ended 30 September, compared with a net loss of #135 million for the same period in 1997.
Revenues for the six-month period hit #1.25 billion, up 14 per cent from the year earlier figure of #1.1 billion.
CWC said the volume of international mobile phone traffic for UK and European mobile operators rose 72 per cent during the period, driving revenues for the company's international and partner services business up 22 per cent to #450 million.
Residential customer numbers have declined during the year, but the drop has been compensated for by an increase in the revenue per customer, the company said.
Corporate and business markets saw slight increases in revenue, and CWC said it expects them to be significant contributors to growth during the second half of the fiscal year.
During the period, CWC announced Network 2000, a scheme to upgrade its entire UK network with high capacity SDH and ATM technology. The company also announced a multimillion IT services outsourcing contract with IBM.
CWC's investment in advanced data, video and Internet services is paying off, according to Graham Wallace, the operator's chief executive. "We are uniquely placed to profit from the growth in Internet, data and advanced services," he said in a statement.
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