Feeds

Colt ups revs, narrows losses

Life as a telco still a challenge

  • alert
  • submit to reddit

Beginner's guide to SSL certificates

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

The next step in data security

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Bono: Apple will sort out monetising music where the labels failed
Remastered so hard it would be difficult or impossible to master it again
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
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?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.