Feeds

Colt narrows losses

Revs flat

Build a business case: developing custom apps

Colt Telecom has improved its finances even though revenues failed to grow, the telco said today. Publishing the latest batch of numbers for the three months to March, Colt reported that revenue was flat at £307m compared to the same period last year.

At the same time, pre-tax losses narrowed to £7.3m down from £28.4m.

Earlier this year, Colt revealed plans to overhaul its corporate structure in a bid to generate profit.

As part of those plans, it announced that it planned to domicile its business in mainland Europe and today confirmed that it has selected Luxembourg as its new home. The reason for shunting the company to the Continent, Colt said, is that with more than 80 per cent of its business and 90 per cent of its network assets in mainland Europe, it maintains that such a move makes sense.

Speaking today, Colt chairman Barry Bateman reiterated earlier statements that the market for telecoms remains tough.

"The markets in which Colt operates continue to be challenging," he said adding that compared to a year ago, "the financial performance of the company has nevertheless improved". ®

Build a business case: developing custom apps

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
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
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
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

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.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.