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2013 Financial Results

Started by: richard_a
On: 02/10/2014 | 18:00
Replies: 74

by: richard_a
giffgaff staff

on: 02/10/2014 | 18:00

We have noticed that some of the eagle eyed amongst you have spotted that our 2013 Statutory accounts have been published. I thought it would be worthwhile just taking you through this great set of results.


giffgaff went from a £28.8m loss (2012) to a £2m profit (2013) as a result of strong cost control. Revenue increased by 74% YoY while the cost of sale increased by 10%. This performance underlines giffgaff’s financial health and its long-term sustainability. The scalability of giffgaff’s model will ensure that its long-term financial health will continue. 


We have attracted 405k new members to the network, on the back of a very good member experience.  Our revenues have also grown to £138m (2012: £79m) on the back of this increase in our member base.


The performance has been in-line with our projections, and we remain focused on running a cost efficient and sustainable lean business.


We are incredibly proud of how hard our members and staff have worked to deliver a mobile network that is truly different and now profitable. 



Chief Financial Officer

Message 1 of 75
by: bluemoonbaz
on: 02/10/2014 | 18:02
Good to see the membership is rising .hopefully with the new changes to the unlimited deals we don't go backwards
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Message 2 of 75
by: kath72
on: 02/10/2014 | 18:04

good to see we are in the black Smiley Happy  


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Message 3 of 75
by: ma2013
on: 02/10/2014 | 18:10
This is great news, we're no longer running at a loss. Great to hear, and thanks for keeping us informed! Keep up the great work and let's get more members on this great network, and keep this network going for a lot longer! :-)
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Message 4 of 75
by: ma2013
on: 02/10/2014 | 18:11
Now to just improve data speeds at 3G speeds, and time to rollout 4G please (let's Stay competitive to keep attracting new members... and keeping the current ones)! ;-)
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Message 5 of 75
by: nytram_1
on: 02/10/2014 | 18:27
Thanks for updating us on how wel network is doing
Message 6 of 75
by: brulaw
on: 02/10/2014 | 18:36

Thanks for the info and figures Richard  ,


It's good to see the network moving into the realms of profitability , hopefully this is going to be the trend going forward  and if the data issues can be resolved that will ad to the excellent benefits already available  ....  that in turn will attract more members and help to keep the commitment of the members who already think of giffgaff as  " their  network " . 


                                               Happy giffgaffing everyone ..... thumbup.gif

Message 7 of 75
by: rixopod
on: 02/10/2014 | 18:38
Wow! Great news!
Message 8 of 75
by: roypaleface
on: 02/10/2014 | 18:44

That's great news, I'm hoping the new goodybags pricing attracts the right sort of customer for giffgaff in future.


The unlimited data goodybags revision was overdue, in my opinion. Hopefully, we only lose the customers that were  extremely high data users.



Message 9 of 75
by: mykiel78
on: 02/10/2014 | 18:45
Great to see we are on the upward trend. Been waiting for such news with some MVNO's going burst due to one reason or another.

This is healthy! Hopefully you guys will continue to reinvest into making giffgaff one of the best and that is, amongst other things

-improving data speeds and

-investing in the infrastructure to reduce down times.

That's me wishing away....!

Great job giffgaff!
Message 10 of 75