Cable & Wireless meets targets

Wednesday 27th May 2009, 3:00PM BST.

Eddie Saints, regional chief executive

THE Channel Islands operation of Cable & Wireless says it has met targets for the year to 31 March, despite ‘extreme volatility’ in divisional foreign exchange currencies.

The global company last week posted a 36% hike in annual earnings, following a group-wide overhaul and recent takeovers.

The telecoms firm – which bought rival Thus last year – said underlying earnings rose to £822 million in the year to 31 March, up from £605 million.

This includes £60 million from its international division, of which the Channel Islands are part.

Jersey and Guernsey are included in the Monaco and Islands region, together with the Isle of Man, Bermuda, the Maldives, the Seychelles, and islands in the South Atlantic.

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