Rakesh Bhasin, Chief Executive Officer, said:
“We are satisfied with the progress the Group has made in the quarter. Regulatory price reductions, fewer working days and currency headwinds in the quarter detract from the underlying progress that is continuing to be made in transforming the business, growing the pipeline, winning new contracts, investing in our infrastructure and expanding our portfolio of services. We remain confident that we will grow the business this year.”
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Rakesh Bhasin, Chief Executive Officer, commented:
“2012 was a year of momentum and growth for Colt. We achieved overall revenue growth for the first time in seven years. We are accelerating the transformation of our cost and skills base, aligning costs related to our legacy business and protecting profits while continuing to invest in our products, services and infrastructure to support future growth.”
On 19 December 2012 Colt announced a programme to accelerate the transformation of its business. Commenting on the plans, Rakesh Bhasin, Chief Executive Officer said “Our performance remains on track. Given the economic backdrop, we believe now is the right time to accelerate the transformation of our cost and skills base. This will result in Colt becoming a more efficient business, and one that is better positioned to execute on its strategy.”
On 13 August 2012 Colt announced that it completed the purchase of ThinkGrid, an international enabler of cloud computing that equips IT providers with the tools and help necessary to establish and expand a revenue stream from the Cloud.
On Wednesday 2nd May 2012, Colt hosted a Capital Markets Day event at which we outlined our view of the market opportunities and how we are addressing them, together with an insight on the Colt business, the products and services we provide, the financial economics of our business, and how we are looking to develop all these over time.