CWC

Barbados Continues to Contribute Significantly to Cable & Wireless Communications Profit & Loss Account

CWCRiddle me this, riddle me that – What Cable & Wireless Communications and Commercial Banks in the region have in common?

The financials for Cable & Wireless as at 31 March 2016 – recently gobbled up by Liberty Global plc – are published. See snippets from the financial which are of interest. A full read of the financials would make for interesting national discussion if were not so indifferent to distilling financial information. This is acerbated by a financially illiterate traditional media.

On page 5 CWC Reports Fiscal 2016 Results little Barbados dumped 181 million dollars into the coffers of the telecommunications giant CWC equaling the contribution made by Trinidad.

revenue%-mix

On page 48 of the Annual Report ended 31 March 2016 Barbados healthy contribution to the bottomline is reaffirmed.

Revenue external customers 16

Note on page 62 Barbados performance was realized not withstanding a hit of 48 million that includes a write off and impairment of 48 million.

Impaired Value

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7 Comments on “Barbados Continues to Contribute Significantly to Cable & Wireless Communications Profit & Loss Account”

  1. Bernard Codrington. August 2, 2016 at 9:25 AM #

    Very interesting.But we should by now know the name of the game: Profit. I hope this translates soon to better customer service. But it has a virtual monopoly and a weak regulator.

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  2. David August 2, 2016 at 9:37 AM #

    @Bernard

    Very interesting.But we should by now know the name of the game: Profit. I hope this translates soon to better customer service. But it has a virtual monopoly and a weak regulator.

    The large international companies in the Caribbean and elsewhere are are moving or have moved to a strategy of centralization read customer service operating with economies of scale to leverage low labour cost in Latin America and even Jamaica. The customer service as we know it is no more.

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  3. Gabriel August 2, 2016 at 11:02 AM #

    David
    I would posit that Cable and Wireless in Barbados was never ever known for an acceptable level of customer service.My experience running an international company dependent of external communications was never acceptable and I can call to mind a man Lewis and his protege Gittens who never rose to the occasion and were known to come up short,very short,in their interactive mannerisms.Another culprit in this regard was Evelyn.When it became BET,I found Hollands and Trevor a cut so high above the others that they to this day remain well known for outstanding service to the bajan clientele.Cable and Wireless has a very poor record in serving the needs of Barbados and they paid expatriate staff and gave them all kind of allowances denied to the locals of similar position and qualification.

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  4. David August 2, 2016 at 11:09 AM #

    @Gabriel

    Maybe there is a different definition for customer service delivered by monopolies although BL&P appears to be the exception. Perhaps it shows what is possibly even if a monopoly.

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  5. Bush Tea August 2, 2016 at 11:14 AM #

    When after 50 years of free education, our claim to fame is to sell our national assets to foreigners because THEY are able to make massive profits …while we were making huge losses…. How can ANYONE question that we are brass bowls?

    When a former prime minister can brag that BNB made more money for Barbados as a minority share holder than when we were outright owners – what the brass bowl was he saying about our (his) leadership /management/ education??

    When our very UTILITIES are now under foreign control, what else can we be but brass…?

    Emancipation shiite!!!
    We are fighting our way back to slavery.

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  6. Gabriel August 2, 2016 at 9:39 PM #

    What I find remarkable about BL&P was between 1984 and ’07 or ’08,when managed by capable Bajans,they never applied for a rate increase and their excellent service did not
    change drastically.Then,firstly Stephen Worme suggested a monkey caused an island wide failure and soon after that Emera offered Sinckler a life line and paid $25.00 a share for the NIS shares in BL&P which were badly undervalued.Soon after over 100 employees were booted and a Canadian came to the company and kicked a black man and Freundel did nothing about it.Next thing a Canadian with a criminal record say he’s setting up a solar farm to compete with BL&P,so we have 2 Canadians fighting on Barbados soil and Bajans led by a Rip Van Winkle standing on the sidelines watching but paying for the lack of foresight of a minority government.

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  7. Atrue Freeman October 1, 2016 at 9:13 AM #

    Then why no financial report for the Barbados company up to now?

    Like

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