The board of Cable & Wireless Communications Plc is recommending a final dividend of 2.67 cents per share. This represents two-thirds of previously announced intention to pay a full year dividend of 4 cents per share for the financial year 2012-2013. Subject to shareholder approval, the final dividend will be paid on August 9, 2013 to ordinary shareholders on the register at the close of business on May 31, 2013. For 2013-2014 the board has confirmed that, subject to financial and trading performance, it expects to recommend a dividend of 4 cents per share, a sustainable level capable of progressive growth.

Cable & Wireless Communications Plc reported consolidated earnings results for the year ended March 31, 2013. The company reported revenue of $1,942 million, EBITDA of $589 million, operating profit of $192 million, profit before tax of $35 million, net profit attributable to owners of parent of $19 million or 6.6 cents per adjusted EPS against revenue of $2,032 million, EBITDA of $590 million, operating profit of $18 million, loss before tax of $117 million, net loss attributable to owners of parent of $77 million or 6.5 cents per adjusted EPS a year ago. Capital expenditure was $263 million, excluding cable assets transferred from inventory, 16% lower than last year and representing 14% of revenue.  Including discontinued operations, Group capital expenditure was $347 million and in line with guidance. Net cash outflow was $703 million against $725 million a year ago. Pro forma net debt as at 31 March 2013 after receipt of the disposal proceeds for the Islands (including the Seychelles) and Macau businesses was $140 million.  The company focused on both organic and inorganic opportunities to drive growth in EBITDA and cash generation.  For continuing operations the company expects 2013/14 Group EBITDA to be similar to 2012/13. Targeted investment in high speed networks leading to capital expenditure of approximately $300 million in 2013/14.

Cable & Wireless Communications Plc announced it has entered into a strategic alliance with Columbus Networks Ltd. to develop its international wholesale capacity business. Under the alliance, CWC and Columbus will form a joint venture in the pan-America region which will provide international wholesale capacity to both companies, as well as to third party carriers. The alliance positions CWC strongly to meet the data capacity demands of its retail operations in the future, as well as optimising its capital expenditure commitment to its undersea cable networks. Demand for data capacity is growing rapidly in this region, driven by the increasing availability of, and consumer demand for, mobile data and fixed broadband services. The joint venture will initially operate on an agency basis by providing joint sales and marketing services for each of CWC's and Columbus' international wholesale capacity services. Columbus has a 72.5% majority share in, and management control of, the joint venture and CWC has a 27.5% share with appropriate minority protections. The alliance will be broadened within the next two years with Columbus and CWC contributing their sub-sea and related assets into the joint venture company, subject to obtaining regulatory approvals and certain other conditions being met. Until then, Columbus and CWC will retain complete ownership and control of their respective existing networks in the region.