Sales fall at Colt Telecom

But profits are up £12m by after last year's £6m loss

Sales are falling at Colt Telecom

Sales at telecommunications company Colt Telecom are down by almost nine per cent to E410m (£275m) for the second quarter.

But profits are up by more than E17m (£12m) to E8.9m (£5.9m) - after a loss of E9m (£6m) last year - thanks in part to an increase in managed data sales of 11 per cent to E207m (£139m).

The results are positive with improved profitability marking the fourth consecutive quarter of increased profits, says Colt Telecom chief executive Rakesh Bhasin.

‘Data revenues increased to more than 50 per cent of total revenue, with growth in every geography and double digit growth in most markets,’ he said.

Data bookings continue to grow and deferred data revenues increased by E12.4m (£8.3m) to E174.8m (£117.5m).

Colt is continuing to invest in managed services products and will open a new data centre in London. Bhasin says good progress in the UK and France will result in a similar performance for the rest of the year.