Vanco, the Virtual Network Operator (VNO), which manages the communication networks for British Airways, Siemens and Virgin, has announced record figures and tremendous global growth:
Turnover rose 25% to £183.2m (2006: £146.6m) whilst operating profit was up 36% to £19.0m (2006: £14.0m)
The strong results were boosted by £131m worth of new contract wins, including Kelly Services (the Fortune 500 recruitment company), Somerfield (the UK supermarket chain), and Lovells (the global law firm). In addition, Vanco has maintained its track record of renewing/extending its existing business. The global Virtual Network Operator secured contract renewals/extensions with Mitsubishi Motors UK, Capespan (the global fruit distributors) and ADT (the world’s leading security solutions supplier).
At 540p, Vanco’s shares have increased by 18% in the last month and by 24% since 1 January 2007.
CEO, Allen Timpany, was recently shortlisted for World Communications ‘Most Influential Person’ Award alongside Steve Jobs of Apple Computer and winner, Eric Schmidt of Google. He was listed 6th in Management Today’s Top 100 Entrepreneurs in January 2007.