COLT results continue to disappoint

21 Jul 2006

UK-based pan-European carrier COLT Telecom Group has posted disappointing results for the first half of 2006, due to challenging market conditions across Europe, most notably in the UK and Germany. Revenues for the six months ended 30 June 2006 fell 1.2% year-on-year to EUR898.1 million (USD1.138 billion), down from EUR909 million in 1H2005. On a more positive note, pre-tax profits narrowed from EUR76.9 million to EUR19.7 million. COLT is moving away from the voice carrier market to focus on higher margin areas such as managed and non-managed network services, bandwidth services and IP telephony. Voice revenues in the period fell 1.5% to EUR263 million, whilst data revenues rose 4.3% to EUR186 million.

United Kingdom, Colt Technology Services Group