Cable & Wireless Communications has unveiled Project Marlin, a $250 million investment programme covering its networks across the Caribbean and Central America.
Project Marlin will last the three years leading up to March 2017, and will go towards both mobile and fixed networks with the aim of “modest” top-line growth. The programme will push the group’s capex up to $1.05 billion by 2016/17.
The group’s fortunes have been mixed, with revenue falling 1% to $1.87 billion in the fiscal year ending March 2014. Mobile revenues actually grew 3% during this period to $937 million, with net profit rising 45% to $148 million. CWC reduced its operating costs 5% to $763 million, as well as boosting its overall subscriber numbers by 9% to 3.7 million.
Having recently sold Monaco Telecom to French billionaire Xavier Niel for $445 million, the group is now looking to invest strategically in four main areas. It aims to strengthen its business services and TV offerings, increase fixed-mobile convergence, and as well as improve the speed of its 4G networks to gain a lead in mobile.
CEO Phil Bentley said: “We are seeing attractive growth in mobile data, driven by growing smartphone penetration and underpinned by investments in the latest 4G mobile network technology and LTE, which we have launched in Cayman and the Bahamas.”
The group is also established in Panama and Jamaica.