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Colt Group pleased with progress in first quarter

By BFN News | 07:22 AM | Friday 27 April, 2012

Communications specialist Colt Group reported revenue for the quarter to end-March of �?¬397.3m (2011: �?¬377.6m) representing year on year growth of 5.2%. Growth occurred across all major product categories with voice contributing approximately half of the overall growth. Group EBITDA of �?¬80.6 million (Q1 '11: �?¬77.0 million) represented year on year growth of 4.7%. The EBITDA margin remained largely stable at 20.3% (Q1 '11: 20.4%). Net funds as at 31 March 2012 amounted to �?¬269.9 million (31 December 2011: �?¬343.7 million). The cash outflow for the quarter reflected normal seasonal outflows, with working capital outflows that included the reversal of �?¬25.0 million of trade payables carried over from Q4 2011 due to the timing of our calendar year end. Colt has secured an anchor tenant for a new modular data centre to be built in the Netherlands. The data centre will be strategically located between the major cities of Amsterdam, Rotterdam, Antwerp and Brussels. Colt will initially deploy 2,000m2 of modular data centre space, scalable to 10,000m2 and 32MVA of power. Colt expects to commence operation of the data centre in early 2013. Further details can be found in a separate press release issued today. Rakesh Bhasin, CEO, said: 'We are pleased with the progress the Group has made during the period. We have seen an increasingly positive reaction in the market to our information delivery platform during the quarter. Our pipeline has continued to grow, particularly in Managed Services, and we remain confident that we will see further growth in revenue this year. 'On 2 May 2012 we will be hosting our Capital Markets Day, where we will provide further details on our plans for growth and the underlying investment programme to support this.' Story provided by