LONDON (dpa-AFX) - Colt Group S.A. (COLT.L, COLT) Thursday reported full-year pre-tax loss of 23.1 million euros, compared to pre-tax profit of 42.4 million euros last year. Profit before tax before exceptional items totaled 23.0 million euros.
Loss for the period attributable to owners of the company was 28.2 million euros, compared to profit of 39.3 million euros a year ago. The firm reported loss per share of 0.03 euros compared to 0.04 euros last year. Before exceptional items, earnings totaled 0.02 euros.
Total revenue for the full year was 1.50 billion euros, down 5.1 percent from 1.58 billion euros in the year-ago period. This was mainly due to the commencement of our withdrawal from low margin carrier voice trading contracts and regulatory driven price reductions within Voice Services.
Further, the company said that while it remains committed to investing to develop profitable growth and improved returns for the business through a mixture of organic and inorganic programmes, its current priority is to improve cost control, returns on investment and free cash flow. The company aims to update the market with more detailed medium term plans at a capital markets day to be held in the second half of 2015.
Copyright RTT News/dpa-AFX