We've just filed our 2017 Annual Report and Financial Statements with Companies House and I thought you might be interested in a summary of the headlines.
Members helped us grow the business again and I’m pleased to report another strong set of results. In 2017 we attracted 261,000 more members and our revenue grew by 16% to £407m. That growth increased our profit year on year by 23% to £28.7m.
We know how much you value your data experience so we took a number of measures to improve speeds and the amount of data in our goodybags. We survey members' perceptions of the data experience and we've seen satisfaction levels improving year on year. We hope you personally have seen a positive change.
Our average monthly churn (the proportion of our member base that leaves us each month) grew slightly, by 0.07 percentage points, to 4.29%. This is because we've expanded into channels which attract higher churning members so it's connected to our growth and it's something we're focusing on in 2018.
In 2017 we grew even though the market was competitive, we continued to record high levels of member satisfaction and we were recognised again as a Which? recommended provider as well as uSwitch Network of the Year for the 5th year running. Our focus on our Community and our members continues to show that that the giffgaff way is a better way to do mobile.
To make sure our members benefit from our higher profits, 2018 has already seen big changes to our pricing. We've refreshed our goodybags, adding unlimited minutes to all over £10 and extending the range of our goodybags to ensure all members can find something to suit them. It’s all part of our commitment to focus on what our members really want.
Thanks all for your continuing support - let me know if you have any questions and I'll do my best to answer. A link to the full report is below.
You can see the full report here: