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Tuesday 12th of May 2015

The People's Operator plc Final Results

By Aim Listing

The People's Operator, the cause-based commercial mobile virtual network operator, is pleased to announce its audited Final Results for the year ended 31 December 2014 and an update on current trading.

Key Highlights:

  • Subscriber numbers have more than doubled since year end and set to hit 30,000 at 12 May 2015
  • Builds on substantial increase of over 14,000 subscribers at year end, ahead of company's initial expectations (31 December 2013: 2,400; 30 June 2014: 5,800)
  • Average customer acquisition costs remain low at approx. £7, significantly below industry standards
  • Low monthly subscriber churn rate maintained, in line with the rate set out in company's AIM Admission Document
  • Revenue of £432,391 (2013: £62,277)
  • Revenues from Pay Monthly customers increased by 74 per cent. since 31 December 2014, translating to monthly run rate of approximately £105,000*
  • Cash and cash equivalents as at 31 December 2014 of £18.4m
  • Loss before tax £2,328,399 (2013: £1,478,440)
  • Community Platform launched in limited release
  • US launch on track 
  • Successful AIM listing

*Assuming that subscribers currently on introductory offers transition to a full rate in line with current churn rates

Jimmy Wales, Executive Chairman, commented: "I am delighted that since listing on AIM in December 2014 our progress has continued to accelerate. Subscriber numbers and revenues are growing strongly, in line with our expectations and we have successfully launched our Community Platform in limited release. We have created a strong team in the US and our launch plans are on track. We remain confident that we will achieve our growth plans in 2015 and beyond."

Further details about PEOPLE'S OPERATOR PLC click here

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