Colt revenues up, losses widen
Shares in Colt Telecom dipped 19p (15.8 per cent) in mid afternoon trading following the publication of widening Q3 losses.
The voice and data carrier reported that its operating loss increased from £26 million in Q3 2000 to £52.3 million in Q3 2001.
Revenues jumped 39 per cent to £231.4 million
Despite the slowdown in economic activity Colt said that it continued to see an increase in demand from corporate customers.
However, the company continues to see weakening demand in the wholesale bandwidth market.
"These trends are continuing and we do not expect any change before the end of the year," said Colt chairman, Jim Curvey.
By mid afternoon Colts shares had fallen 19p to 101.5p. ®