conditional color change

I am trying to conditionally change PART of a string to a different color.

similar to:

stringvar sResult;
if InStr({Table.Name}, '~~') > 0 then
sResult := "First part of {Table.Name} string "
sResult := [Change color to Red] + "~~next part of {Table.Name} string"
sResult := [Change color to Black] + "last part of {Table.Name} string"
else
sResult := {Table.Name}

Anyone know if this is possible?
Any help is much appreciated.
Ian

You can create different formulae fields with respective texts and format those fields to have desired colors on the format section