MVNO posts £500 million revenue in 2010 while profits also rise to £18.7 million and employee numbers more than double to 1300 people across all markets
Global Ethnic MVNO Lebara Mobile has reported “massive” growth for the year ending December 2010 announcing a revenue increase of over 50 per cent to €564.636 million (£500 million) for the period.
Before tax profits were up by 139 per cent to €21.097 million (£18.7 million) compared to €8.832 million (£7.8 million) in 2009.
The large increase in revenue and profit comes as Lebara also announced it has more than doubled its employee base from about 500 full time employees at the start of 2010 to over 1300 across its business by the years end.
The arrival at the £500 million revenue mark is also significant for Lebara – its chief executive Ratheesan Yoganathan says it his ultimate goal is to take the company to and then past £1 billion in revenue.
Speaking to Mobile News Yoganathan (pictured) put the results down to strong customer service, Lebara’s strong internal structure and its significant marketing spend.
“The number one reason for these strong results is due to our people. Anything we plan, our people are always at the top – the more they understand the better they can do their job,” Yoganathan said.
“Lebara’s success is founded on an exceptional understanding of its customers and a single minded focus on best-in-class customer service.
“We ensure that we meet our customers core needs, providing instant access to high quality mobile networks at very low prices.”
Yoganathan said the revenue and profit were a “direct consequence” of the brand building Lebara has embarked on recently.
The company is the kit sponsor for the London Irish rugby team and will co sponsor the upcoming England cricket test matches versus India and Sri Lanka.
The company also sponsored the recent MOBO (Music of Black Origin) music awards. There is also a significant Lebara presence in store fronts and on London buses and black cabs.
“Brand is everything. I want to build a lasting brand that will last for generations – you cant get anyone to trust you unless your brand image is strong,” Yoganathan said.
Yoganathan also said success in two of Lebara’s newest markets – France and Germany had been strong, singling out the the French market in particular which he says is growing faster than the UK.
Lebara also operates in Australia, Switzerland, Denmark and Spain. Yoganathan says the company now has over 100,000 points of sale within the UK alone.