Colt Group S.A. Interim Management Statement for the quarter ended 30 September 2013
Rakesh Bhasin, Chief Executive Officer, said:
“This quarter’s results reflected currency headwinds and regulatory driven rate reductions which continued to drag on headline revenue growth. While underlying progress continues to be made in several areas including development of our managed services business, we continue to experience churn in legacy technologies and smaller customers. We do, however, continue to invest in our strategic programmes which, combined with product mix, has resulted in pressure on our EBITDA margins.”
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