Telecoms provider Cable & Wireless Jamaica, which trades as Flow, earned US$94 million ($14 billion) in revenue over three months ending September, reflecting a 1.5 per cent dip when compared with a year ago.
It still performed better than the group to which it belongs, Liberty Latin America, which reported a 8.2 per cent fall in group revenue to US$888 million across its regional markets. Liberty owns Cable & Wireless Communications Plc, CWC, the umbrella under which Flow Jamaica falls. Other segments include Cabletica and the Liberty Puerto Rico brand, which includes its new acquisition of AT&T holdings.
The decline notwithstanding, the owners of Cable & Wireless described Jamaica’s performance in the quarter as strong, with Liberty Latin America CEO Balan Nair citing the addition of “19,000 RGUs and taking this to 65,000 additions year to date, three times the amount we added in the same period last year”. RGUs refer to revenue-generating units, or subscribers.
Mobile subscribers in Jamaica totalled 965,800 up to September, up 19,000 since the June quarter. Fixed line, Internet and video customers totalled 606,900 up to September.
Flow Jamaica’s profits were not disclosed in Liberty Latin America’s financials.
Puerto Rico at US$114 million and Costa Rica at US$35.1 million were the only markets itemised within the group that grew revenues year-on-year. Panama remained the top market, despite a fall in revenue from US$308 million to US$302 million.
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November 11, 2020 at 12:07PM
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FLOW Jamaica grows subscribers but not revenue - Jamaica Gleaner
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