Colt revenues rise after seven years

Colt revenues rise after seven years

European data centre provider, Colt, has reported an increase in full-year core earnings for the first time in seven years.

Colt’s adjusted earnings, before interest, tax, depreciation and amortisation, rose to €333.6 million in 2012, increasing from €332 million last year.

Colt spent €32 million on restructuring in 2012, and the company expects a net recurring annual cost saving of approximately €27 million by 2014.

It has made substantial investments in its data centre and fibre-optic network capabilities in the past year.

"2012 was a year of momentum and growth for Colt,” said Rakesh Bhasin, chief executive of the company.

“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."

Colt shares stood at 123.5 pence on the London Stock Exchange on Wednesday.

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