Cable & Wireless Panama revenues on the rise.(Panama)(Brief Article)

Latin America Telecom, December, 2004

The incumbent operator of Panama closed the first six months of its fiscal year (March-September) with US$234 million of revenues, or 8 percent better than last year during the same period.

The driving factor for the revenue growth was attributed to strong customer demand for mobile-phone services where 39,000 new subscribers were added.

The company now has 548,000 mobile-phone customers. On the flip side, long-domestic distance revenues plummeted 19 percent, while international long-distance was set back 6 percent due to the new entrant competition since the market was liberalized in January of 2003.