Cable & Wireless Worldwide brings in FD for financial and corporate comms

Cable & Wireless Worldwide has brought in FD to handle financial and corporate comms, as it faces up to remodelling its business in the wake of the Government's public sector cuts.

Appointed: FD for Cable & Wireless brief
Appointed: FD for Cable & Wireless brief

Despite its name, Cable & Wireless Worldwide is UK focused and heavily reliant on public sector incomes.

The firm was previously part of FTSE 100 firm Cable & Wireless group, which was demerged into two parts earlier this year. The other part, Cable & Wireless Communications, operates on a more global scale, concentrating on markets such as the Caribbean and Falkland Islands.

Smithfield handled PR for Cable & Wireless Worldwide around the demerger and was subsequently retained by the firm. Finsbury continues to work for Cable & Wireless Communications. FD declined to comment on the appointment, but it is understood the firm has started working on the business after winning a competitive pitch.

Cable & Wireless Worldwide is a member of the FTSE 250 and recently revealed it was on target to hit its full-year forecasts despite a sharp downturn in government spending.

Public sector work accounts for 12 per cent of the firm's annual revenue.

In July, The Daily Telegraph wrote that the firm had become 'the first major company to fall victim to the coalition's austerity drive' after the share price dropped 20 per cent in a single day's trading.

An interim management statement in July read: 'In light of the downturn in public sector activity, we have stepped up our cost reduction initiatives and now expect total operating expenditure to reduce year-on-year.

'We are supportive of the overall approach being adopted by government and believe that our unique product set provides us with significant opportunity in this area over the medium term.'

Since that date, the firm has won an £82m five-and-a-half-year contract with the Foreign & Commonwealth Office to provide telecoms services to more than 150 countries.

Despite its UK focus, the company also has interests across EMEA, Asia, India and the US.

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Latest Articles

John Lewis to tell brand story with "tasteful" 150th anniversary celebrations

John Lewis to tell brand story with "tasteful" 150th anniversary celebrations

Department store John Lewis is to use its 150th anniversary this year to talk about its history, which "not enough people know about", according to director of communications Peter Cross.

Labour hires Obama election strategist David Axelrod to fight General Election

Labour hires Obama election strategist David Axelrod to fight General Election

The man who helped Barack Obama win the 2008 and 2012 US presidential elections is to work for Labour along with members of his team.

Sky adds Fever PR to its roster after splitting with Cake

Sky adds Fever PR to its roster after splitting with Cake

Pay-TV giant Sky has added Fever PR to its agency line-up for a wide-ranging brief covering products and services.

Max Clifford trial jury to continue deliberations after Easter break

Max Clifford trial jury to continue deliberations after Easter break

The jury in the trial of celebrity publicist Max Clifford has been sent home for Easter and will reconvene on Tuesday for further deliberations about its verdicts on 11 charges of indecent assault.

Home Office brings in Munro & Forster to campaign against FGM

Home Office brings in Munro & Forster to campaign against FGM

The Home Office has tasked Munro & Forster (M&F) with supporting its campaign to eradicate female genital mutilation (FGM) as part of a wider retained brief.