MVNO reports full year profits of £16 million, but confirms that eight per cent of jobs at Group and UK divisions are under threat
Lebara Group recorded a 15 per cent jump in revenues to €648 million (£519 million) and operating profit of £16 million for the full 2011 year.
The firm also saw a 27 per cent increase in customers to 3.8 million, and an increase in gross profit margin from 27 per cent to 29 per cent.
However, Lebara said that a “review of operations” had led to eight per cent of jobs at its Group and UK divisions coming under review.
Lebara founder and CEO Yoganathan Ratheesan (pictured) said: “Our business is founded on our unparalleled understanding of our customers and our commitment to improving their lives through the provision of low-cost, high-quality services that allow them to connect with their friends and family back home.
“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.
“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.”