Full-year revenues at pan-European MVNO Lebara are up 15 per cent to €648 million, helped by a 27 per cent increase in customers to 3.8 million.
Importantly, the company also reported operating profit of €20 million for the fiscal year 2011, together with an increase in gross profit margin from 27 per cent to 29 per cent.
Commenting on the results, company founder and CEO Yoganathan Ratheesan told Mobile News that the financial performance of the company was due to the exceptional value and service levels delivered to Lebara customers.
"We know that we have to continually evolve to remain at our best and competitive in this market place, and recent changes have ensured just that," he said. "The savings we have made across the business will be reinvested to continue to deliver maximum value to our customers through more low cost products and high quality services."
The company, which operates in seven European countries and Australia with a focus on the low-cost ethnic market, announced earlier this year that it had cut its workforce at its Group and UK divisions by 8 per cent.
- see this Mobile News article
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