Increase of £6.6 million from the previous financial year, with EBITDA almost quadrupling to £4.5 million
Olive Communications grew revenues by 63 per cent annually to £17.6 million in its most recent financial year.
Posting figures for the 12 months ending January 31, 2014, the Vodafone Platinum and O2 Centre of Excellence Partner revealed revenue had increased by £6.6 million from a year earlier.
This includes over £3 million from acquisitions, with the remainder driven by organic growth. EBITDA almost quadrupled from £1.2 million to £4.5 million.
During the year, Olive made a number of acquisitions. It bought Vodafone dealer Direct Communications in June 2013 to add 3,000 connections on the network and followed this with the acquisition of rival Wish Communications three months later, adding 45,000 connections, most of which were on Vodafone. It was Olive’s ninth acquisition in two years.
The High Wycombe-based firm said the purchases significantly increased its scale in the mid-market and SME sectors, strengthened its management capability and added fixed line and professional services to its product portfolio.
Olive CEO Martin Flick (pictured) said: “Our growth is testament to the role Olive is playing in the constantly evolving business communications landscape. As businesses look to transform the way they work, and take advantage of exciting new technologies, our role as both trusted partner and solutions provider is increasingly important.”