C&W rings in profit

UK telecoms carrier Cable & Wireless (C&W) bounced back into the black today as full-year results highlighted progress made since a painful restructuring two years ago.

C&W, which has shed thousands of jobs in recent years, said it achieved bottom-line profits of £363m (€527.6m) in the year to March 31, compared with losses of £224m (€325.6m). It last recorded profits in 2001.