Feeds

Colt ups revs, narrows losses

Life as a telco still a challenge

  • alert
  • submit to reddit

Choosing a cloud hosting partner with confidence

Colt - the UK-based telecoms group that provides communications services to businesses - has managed to post slightly improved numbers.

Turnover for the three months to the end of June was up 4.5 per cent to £316.7m compared to the same period last year.

At the same time Q2 pre-tax loss fell from £28m to £26m.

Part of that narrowing loss is down to Colt's ongoing restructuring and its decision to shunt more jobs overseas. So far it's hired around 400 staff in India (around 10 per cent of its workforce) as headcount in Europe has fallen.

By the end of the year 600 staff (15 per cent of the workforce) are due to be employed in India.

Said Colt chief exec Jean-Yves Charlier: "In the second quarter we saw Colt return to growth with improvement in turnover, earnings and cash flow. These results are an encouraging sign that our strategy is continuing to show early results."

In April Colt dismissed speculation that it could be the target of a take-over bid as "unfounded rumours".

By the time England had snapped up four early Aussie wickets this morning shares in Colt were up 2.47p at 64.47p. ®

Related stories

Colt takeover rumours 'unfounded' says boss
Who should buy Colt?
TDC sniffing around Colt - report
UK telco sector remains in doldrums
Falling prices hit COLT profits

Remote control for virtualized desktops

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
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?
Reducing the cost and complexity of web vulnerability management
How using vulnerability assessments to identify exploitable weaknesses and take corrective action can reduce the risk of hackers finding your site and attacking it.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.