Virgin Mobile posts 40% increase in net profit

British MVNO Virgin Mobile posted a 40 percent increase to $47.2 million in net profit for the first six months of its fiscal year. Virgin's revenue also rose 7 percent to $471.1 million. The company attributes the success to new customers. The MVNO claimed 4.2 million subscribers at the end of the six-month period, compared to 3.6 million this time last year. The company said it's looking to target the 16- to 30-year-old subscriber market and push new products like the pink Motorola Razr to fuel future growth.

For more on Virgin Mobile's increased profits:
- see this story from the AP