Pounds 540m Blow for Cw As Margins and Sales Slide

Evening Standard - London › October 07, 2005

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Summary

MORE than Pounds 540 million was wiped off the value of telecoms giant Cable Wireless today after it warned that UK sales and margins were falling and said its Pounds 720 million takeover of Energis will be delayed. The shares plunged 223/4p, or 16%, to 119p.

Analysts said the statement was "effectively a profits warning". One said: "This reads like a series of bad news updates." Another added: "This raises questions over the management's credibility."

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Pounds 540m Blow for Cw As Margins and Sales Slide

Goldman Sachs said: "It is not clear that the cu...

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