Acquisition, development costs hit Colt Group profits

News

Acquisition, development costs hit Colt Group profits

Alex Scroxton

Networking and comms provider Colt Group has booked a 3.2% decline in its EBITDA after its recent acquisitions of financial services specialist MarketPrizm and cloud platform provider ThinkGrid and associated product development costs.

DeclineEarnings at the London-listed outfit dropped by €2.7m (£2.17m) to €81.6m for the quarter ended 30 September, while sales slipped by just over 1% to €390.8.

In its interim statement to the City on the morning of 25 October, Colt said it saw asset sales decline by over €6m year-on-year, including modular datacentre sales, although growth in non-DCS managed services and data “more than offset” the impact of ever-shrinking voice revenues.

CEO Rakesh Bhasin told investors: “We continue to execute and invest in our strategic plan against a backdrop of challenging economic conditions in Europe.

“Our pipeline of opportunities remains encouraging [and] in line with our future direction we continue to review initiatives to accelerate the required skills transformation for future growth while aligning cost structures for our legacy business.”


Join the conversation Comment

Share
Comments

    Results

    Contribute to the conversation

    All fields are required. Comments will appear at the bottom of the article.