International MVNO Lebara today (11 May) reported annual revenue increase of €564.636m (£500m) - up 50% from 2009. Pre-tax profits grew 139% to €21.09m (£18.7m) for the year ended December 2010.
Lebara’s financial success comes as the company announces that it has more than doubled its workforce from around 500 full time employees across its business to 1,300 in just over a year.
Lebara founder and CEO Yoganathan Ratheesan 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.
‘This should be the focus of all mobile network operators; to enhance the lives of their customers by delivering low cost, high quality calls. They are what encourage our widespread migrant customer base to return to us time and again, to help them connect with their friends and families back home.’
Its products currently drive business and profit-through-commission for the 100,000 points of sale across the UK where Lebara products can be purchased.
Lebara recently teamed up with MasterCard to launch its own a new money sharing service, the Lebara prepaid MasterCard, which offers customers a two-card facility for sending and withdrawing money internationally.
The company has grown its customer base further after expanding in France and Germany last year.