Feeds

Colt ups revs, narrows losses

Life as a telco still a challenge

  • alert
  • submit to reddit

Boost IT visibility and business value

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

Best practices for enterprise data

More from The Register

next story
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Nintend-OH NO! Sorry, Mario – your profits are in another castle
Red-hatted mascot, red-colored logo, red-stained finance books
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
prev story

Whitepapers

7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
A new approach to endpoint data protection
What is the best way to ensure comprehensive visibility, management, and control of information on both company-owned and employee-owned devices?