Colt reports 5.4% jump in net income

21 Oct 2010

Corporate telecoms provider Colt has reported that it expects a good end to the year after posting third-quarter core earnings up over 5% on an annualised basis, slightly ahead of forecasts, due to cost cuts and strong Managed Services sales. The group said the solid earnings for the three months to the end of September came despite revenues being down 1.8% to EUR393 million (USD545 million), due to lower sales of voice products. Data revenue was flat whilst the Managed Services division continued to grow, albeit at a slower rate. Overall, core earnings before interest, tax, depreciation and amortisation were up 5.4% to EUR84 million.

United Kingdom, Colt Group (formerly Colt Telecom)