Cable & Wireless grows IP and cloud business

Cable & Wireless has reported revenues for the year ending 31 March 2010 of £2.29bn.

Cable & Wireless has reported revenues for the year ending 31 March 2010 of £2.29bn.

The company has switched most of its business from traditional telco voice services to IP, hosting and managed services, which accounts for 72% of its gross margin.

It announced a £40m, five-year deal with Vertex to provide a private cloud network. It also has a £207m, 15-year managed outsource contract with National Grid plc and a five-year contract with Tesco to provide a wholesale broadband network.

It is also introducing a suite of collaboration tools, and has agreed a partnership with Regus to provide managed video conferencing in offices worldwide.

John Pluthero, chairman of Cable & Wireless, said, "A busy year of operational, corporate and market progress sees us begin our new corporate existence with real momentum."

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