Feeds

It's financials again – but it's a Colt that's pointing at you, here

Telco increases its loss

  • alert
  • submit to reddit

Internet Security Threat Report 2014

Colt Telecom Group’s loss grew by a hefty 69 percent to £15.4 million in the third quarter, but still in line with analysts’ expectations of a £13.6 million to £20 million loss. Colt’s shares jumped by 26.5 pence to 671.5 pence on the news and the company said it now operates across seven countries and 11 cities. It intends to be operational in 20 cities by the year 2000. Colt, headquartered in London and run by Boston-based Fidelity Investments, has grown its European network significantly, trebling its sales to September 30, up to £61.1 million from £21.4 million this time last year. Chairman Jim Hynes said: "Our performance has exceeded all expectations, reflecting the very strong demand we have seen for our services in all markets and across all customer segments. Turnover for the third quarter of £61.1 million was up 32 per cent over the second quarter and gross profit of £11.6 million increased by 34 per cent over the second quarter, almost 2.5 times gross profit for the third quarter of 1997. He added: “Colt is serving more customers in more markets than ever before... and serving customers in a broader range of industrial sectors.” The equity, debt and convertible offerings completed during the quarter raised over £626 million pounds of new capital, and at the end of the quarter, cash resources amounted to £764 million. “This leaves us well positioned to finance our growth and expansion plans," said Hynes. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.