C&W Caribbean outlook still cautious

Telecoms firm, Cable & Wireless Communication, says it’s still cautious on the outlook for its Caribbean market, despite seeing signs of stabilisation.



The company says the Caribbean has faced its most difficult economic conditions in a generation and it’s still guarded on its outlook, although the performance for the second half of last year was in line with the first six months.



The former larger group, known as Cable & Wireless, issued a profit warning last November due to a poor performance in the region, which was hit by reduced tourist numbers and a weakened economy.



Chief Executive Officer Tony Rice says tourist numbers are starting to return to previous levels but spending is still low.



Earlier this year Cable & Wireless Communications, which focuses on the Caribbean, Macau and Panama, split from the former Cable & Wireless group, now Cable & Wireless worldwide.