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Vanco posts year on year operating profit increase of 490%

Vanco plc, the global Virtual Network Operator (VNO) today announces its preliminary results for the year ended 31 January 2004.
Turnover amounted to £76.8 million, an increase of 45.5% over the previous year. Operating profits were £5.5 million, an increase of 490% over the same period. The results further substantiate that the VNO model continues to offer the most beneficial strategy for delivering global network solutions for large multi-national enterprises in a highly competitive marketplace. Vanco continues to strengthen its contracted order book. At 31 January 2004 this stood at £170 million, an increase of 28.7%. Summary: · Turnover up 45.5% (2003 - 42.3%) to £76.8 million (2003 - £52.8 million); · Operating profit on continuing operations up by 490% to £5.5 million (2003 - £0.9 million); · Contracted order book up 28.7% to £170 million at 31 January 2004 (2003 - £132 million); · Gross margin of 34.9% (2003 – 35.0%); and · Customers in 83 countries globally (2003 – 65 countries). Commenting on the results, Vanco CEO, Allen Timpany said, “The VNO business model is one of the most significant industry developments following the deregulation of the telecoms market in 1984. It confirms that the end user has segmented the market into two distinct categories; solution providers and infrastructure wholesalers. This shows that our industry is maturing. “The fact that we’ve been growing this business at between 40-50% per annum for the past 16 years shows that our approach and services are exactly what large multi-national enterprises wish to buy. We continue to make significant steps in this highly competitive marketplace, outperforming our competitors on many financial, growth and service related measures and with these results we believe we have further cemented Vanco’s position as a leading provider of global network solutions. Current trading is good; we remain positive in our outlook and fully expect to meet the market’s expectations in the year ahead.” For a copy of the full preliminary report please go to www.vanco.info About Vanco Established in 1988, Vanco plc (FTSE: VAN) is the leading global Virtual Network Operator. With solutions available in 230 countries and territories, Vanco is selected by the world’s largest organisations to provide strategic network solutions. Its customers include Avis Europe, Virgin Retail, Ford Motor Company, Pilkington, RMC Group and Smith & Nephew. Through the Vanco network solution customers get access to the greatest geographic coverage available through a single provider. Vanco offers incomparable flexibility to customise and adapt the solution in line with market changes and business priorities. Vanco is recognised by the industry for its financial success and world class customer service delivery. A significant proportion of its investment capital goes into customer care which is reflected by the awards won, independent market research and customer retention. Contatti per la stampa: Vanco Andy Brown, PR Manager Tel.: +44 (0)208 6361721 andy.brown@vanco.co.uk www.vanco.co.uk Brodeur Image Time Viviana Viviani – Caterina Piras Tel.: 02205621 vviviani@imagetime.it - cpiras@imagetime.it www.imagetime.it

Autore: Redazione FullPress
News inserita in: Varie
Pubblicato il: 20 aprile 2004

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