Colt Group SA (COLT.L, CLTZF.PK) Thursday said 2011 pretax profit went up to 72.0 million euros from 47.0 million euros in 2010. Excluding exceptional items, prior-year profit before tax was 77.1 million euros. On a per-share basis, earnings slipped to 0.07 euros from last year's 0.08 euros.
Revenues for the year slipped 1.9 percent to 1.55 billion euros from 1.58 billion euros due to a 7.7 percent drop in Voice revenues which offset the 0.5 percent growth in Data and the 7.9 percent improvement in Managed Services revenues.
Separately the company announced the retirement of Board member Hans Eggerstedt effective April 26, 2012. As Chairman of the Audit Committee, Eggerstedt is likely to be succeeded by Anthony Rabin while Sergio Giacoletto is expected to step into the role of Senior Independent Director.
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