Telecoms group announces 60% profit increase

COLT Telecom Ireland have reported a 60% rise in revenue to €20m since they commenced its Irish operations.

The business communications group also announced an operating profit of €1.1m.

Commenting on COLT's Irish operations, Gary Keogh, Managing Director of COLT Telecom Ireland, said: "This performance proves again that more and more enterprises are trusting COLT with their business communication services.

"COLT has established a strong foothold in Ireland and in 2006 we will further extend to enable us offer midsize organisations a wide range of services and products.

"We are seeing huge interest in our new IP Voice product which we launched in February."