The Chairman of the Board of Cable & Wireless Jamaica Limited (CWJ), Mark Kerr-Jarrett, introduced himself to shareholders present at the meeting. He provided positive opening remarks on the firm’s performance, stating, “the continued improvement of our customers experience remains a key imperative for us as we invest and respond to their suggestions. Following the launch of our call centre of excellence early last year, we have made additional investments to enhance our customer’s experience. We are mindful of our customers’ expectations and have a flagship team to improve our service delivery and enhance the efficiency of our systems to deliver better service.”
Subsequent to the Chairman remarks, Mr. Stephen Price, the new Managing Director of Cable & Wireless Jamaica Limited (CWJ) was introduced to shareholders. Mr. Price then took control of the meeting to introduce members of the senior management team which he believed will lead the company into the future. Ensuing this, Mr. Price presented on the company’s performance in 2016 and the way forward for the company. The Managing Director opened, highlighting that, “2016 has been an incredible year for us, exciting times, lots of milestones and changes in the economic environment that we’ve had to face head on.” Due to these changes, it has opened up opportunities for person in the business as Mr. Garfield Sinclair is now the new President of the Caribbean, with Mr. Price moving up to the Managing Director role. The performance in 2016 featured a, “strong year over year commercial performance”, “progress made against key operating objectives” and “strategic plans put in place”. As such, in 2016 total revenues rose 12% due to a 9% growth in Mobile Subscribers and a 25% climb in Mobile Revenues. Operating costs rose due to a 23% increase in out payments and direct costs, while an increase in marketing and selling expenses and network costs, utilities and power also contributed to the movement. These factors have afforded the company to report a 21% increases year over year in operating profit.
Touching on the way forward, Mr. Price noted, “We are continuing to invest because that’s how we provide these services, that’s how we get these great speeds, that’s how we get efficient in our business.” The Managing Director further added, “we are making this network purpose built to deliver the future of a Smart City, Smart Homes, Smart Businesses and it is with this technology that we believe will achieve it.” Subsequent to this, shareholders were amazed by the company’s vision of a Smart City in the future via a multimedia presentation. The presentation depicted CWJ’s mission of “Connecting Communities, Transforming Lives”. According to Mr. Price the presentation to the audience was intended to give shareholders, “a look at what’s present and what the future holds.”
Moving forward into the future, CWJ intends to press forward with:
- Investing further in Infrastructure & technology
- Growing its Sales & Distribution network
- Employee Engagement & Development
- Customer Service Improvement
- Asset Protection
In closing, the Chairman thanked shareholders on the behalf of the Board of Directors for their continued support over the years.