Lebara Announces Record Financials

Lebara, one of Europe’s leading telecoms operators for migrant communities, released its financial results and business growth from FY09 to FY10. The company has seen massive financial success in a tough economic climate, bucking industry trends to deliver fourfold growth in the past two fiscal years. Lebara has achieved this feat simply by growing its core business, without any merger or acquisition activity.

Lebara’s outstanding financial results are just one way in which its recent success can be measured. In March 2011 the company again received the Mobile News award for best Mobile Virtual Network Operator (MVNO) and beat ALL mobile operators to bring home the best customer service award. Also in 2011, Lebara won the Asian Business of the Year award and in 2010 the accolade of Asian Business’s Young Entrepreneur of the Year was awarded to Lebara owner-founder and CEO, Yoganathan Ratheesan.

Ratheesan believes that the company’s business success and strong customer service are closely connected: “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.”

Lebara’s commercial success has delivered benefits to more than the company and its customers. The business has delivered a wider benefit to the economy by creating jobs through the economic downturn. Cross-market, total employee numbers have more than doubled from 2010 to 2011 and this growth looks set to continue well into the future.

The company’s business growth externally is supported by its internal culture, which focuses on nurturing entrepreneurial spirit by offering exceptional opportunities for professional growth. Lebara’s products also drive business and profit-through-commission for the 100,000 points of sale at which Lebara products can be purchased across the UK

Lebara has begun to diversify its offer in a way that will not only attract, but also retain, its migrant customer base. As well as having recently launched its post-paid mobile call service, Lebara has set up a MasterCard® money-share product, offering highly competitive exchange rates for customers wishing to move money to their loved ones. The company has also expanded its distribution channels by launching operations in France and Germany in the last year.

Expansion of offer and geography are designed to further grow the company’s active customer base, which expanded by 35% between FY09 and FY10. Looking to the future, the company’s current activity will improve its gross margins and increase Lebara’s brand awareness and uptake across new and existing markets.