back to article C&W issues profit warning on public sector cuts

Cable and Wireless shares tumbled more than 20 per cent this morning after it warned investors it would miss profit targets because of cuts in the public sector. "Following the new government's emergency budget in late June, non-contracted spending in the UK public sector has slowed very significantly," it said in an …


This topic is closed for new posts.
  1. Anonymous Coward
    Anonymous Coward


    C&W - not nicknamed Clueless and Witless for nothing. The Empire has faded, the cash cows are dead. C&W is on its last legs, the 20% reduction in share price is only the beginning.

    1. Anonymous Coward
      Anonymous Coward

      Clueless and Witless

      ah ha, that explains the govt. work then..

    2. Mike Shepherd
      Thumb Up


      Couldn't have put it better.

  2. Michael 82
    Gates Horns

    This Cash cow has died..

    Where's my shovel..

    1. Number6

      Pining for the F-Gords

      It's not dead, just sleeping. It could be back in five years.

  3. lotuswolf

    C&W will survive.....for now....

    In light of this news (And Sky considering sale of Easynet) I reckon C&W will sell some assets this year to inflate their performance by the end of the financial year (I'm looking squarely at you Thus, who only survived staying part of the C&W family last year due to the demerger),

  4. Anonymous Coward


    C&W basically based their entire financial model on "non contracted" government work. Given that a lot of their contract work is for the Government isn't this really a case of putting all your eggs into one basket?

    1. Anonymous Coward
      Anonymous Coward

      yes but..

      the govt. don't appear to ask questions about either the cost, or the product, which leads to making lots of money off them without having to actually deliver a lot of stuff.

      There's not many customers you can say that about, and if they are the main/only customers, one is naturally lead to certain conclusions.

  5. Anonymous Coward
    Anonymous Coward

    Snoopy, snoopy C&W

    Have some of it back.

This topic is closed for new posts.