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
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 .....
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.