Colt Group S.A. results, six months ended 30 June 2013
Rakesh Bhasin, Chief Executive Officer, commented:
“While the first half results reflect the impact of a stubbornly challenging economic climate and negative regulatory pressure on Voice revenue, our business continues its transformation in line with our strategic direction. Growth in key strategic areas is occurring in managed networking and IT services and data centre related revenue, however, this is overshadowed by foreign currency movements, regulatory voice pricing and churn of legacy Data products. Our products and services in our strategic areas are winning recognition in the market and our pipeline is improving. Our continued investment in strategic areas should suppress near term margin expansion but we remain optimistic that the business will grow full year revenue on a constant currency basis.”
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