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.

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