LIME Jamaica turns to parent for support after historic loss - Business - Jamaica Gleaner - Friday | June 1, 2012

LIME Jamaica turns to parent for support after historic loss - Business - Jamaica Gleaner - Friday | June 1, 2012: "Cable & Wireless Jamaica, which trades as LIME Jamaica, is now dependent on its parent for survival after hitting a new record in losses both at the telecoms and of any stock market company in the exchange's five decades of trading.

Auditors KPMG says the company's financials are too weak to sustain it, and could lead to a delisting of the CWJA stock."

But LIME is reassuring the market that parent Cable & Wireless Communication will be stepping in to keep the operation afloat while the Jamaican telecoms sector undergoes reform.

LIME Jamaica lost J$20 billion at yearend March 2012, the majority of which related to a near J$16-billion write-down of fixed assets. Revenue was virtually unchanged, year-to-year, from J$20.8 billion to J$20.4 billion.

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