Acquisition, development costs hit Colt Group profits

Colt Group has booked a 3.2% decline in its EBITDA after its acquisitions of MarketPrizm and ThinkGrid and associated product development costs

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.”

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