Colt suffers profit loss following voice revenue decline
UK wholesale operator Colt Group SA has reported a 49.7% fall in pre-tax profit, largely due to a fall in voice revenues.
Voice revenues have been declining across the market as a result of an increase in internet based applications for communication, including a range of VoIP services.
The company’s poor results were also put down to a challenging economic climate and negative regulatory pressure on voice revenue.
It reported a fall to €158 million from €161.8 million a year earlier in earnings before interest, tax, depreciation and amortisation for the six months ending June 30 2013.
Revenue fell a further 1.1% to £788.9 million.