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20 Apr 2007
Virtual network operator (VNO) Vanco is in jubilant mood after posting a surge in sales and profits for the year to 31 January.
Helped by £131m of new business, the company achieved a 25 per cent spike in turnover to £183m, while pre-tax profits soared 33 per cent to £14.7m.
Vanco, which claims to be the world’s largest VNO, also lauded its fledgling channel business, which it said generated £30m of contracted order book intake last year.
Since closing its books on 2006, Vanco has inked its largest ever deal, a $104m, 76-month project with Ernst & Young.
Allen Timpany, chief executive at Vanco, said: “These are record results and represent our 19th consecutive year of increased revenue and profitable growth.
“This year has also been significant in terms of the progress we have made in
developing indirect routes to market. In the first half of the year, we
redirected sales and other resource to the development of our channel partners.”
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