Aug 18, 2009
Cable & Wireless Jamaica’s Woes Continue
The woes continue at Cable & Wireless Jamaica Ltd., as the telephone company posted yet another quarterly loss to begin its financial year. CWJamaica’s net loss for the first quarter rocketed to J$503.61M, up from a much smaller loss of J$27.4M that was reported a year ago.
Despite attempts to boost its bottom line through various strategies including cost-cutting measures, the opening of new flagship stores and the launching of its 3G service, CWJamaica still struggles. Since the start of the year, Cable & Wireless Jamaica’s stock has dropped 20% to J$0.40 from J$0.50.