News

Oxygen8 Communications Announces Strong Financial Results


Monday 4th July 2011, 2.30pm

  • Turnover in excess of £60million for year ending 31st May 2010
  • Profit increased nearly seven times to £2,014,202
  • Growth driven by expansion in key overseas territories

Oxygen8 Communications, the international mobile, voice and billing specialist, today announces its financial results for the year ended 31st May 2010. During the year Oxygen8's turnover increased significantly to £62,445,523 (Year ending 31 May 2009: £55,601,484), whilst profit increased nearly seven times with profit on ordinary activities before taxation of £2,014,202 (Year ending 31 May 2009: £295,528).

Oxygen8's Group turnover increased year on year by £6,666,349, with strong growth in the African and UK markets. South African turnover increased by £8,416,867 (363%) to £10,734,431. Oxygen8's UK business also grew by £5,962,831 (19%) to £36,858,452.

Oxygen8 is continuing to expand its international business activities, focusing on four core areas of M-Commerce, Mobile Marketing, Business Solutions and Communication Infrastructure services. With offices in the UK, Ireland, Australia, USA, South Africa, Canada, Tanzania, Kenya and Mozambique, and the Caribbean, the company has a true international presence. Furthermore, Oxygen8's converged offering is unique in the market. It is able to able to deliver a cohesive, robust platform that offers integrated CRM, meaning customers can provision voice services, mobile solutions and billing in real-time. The in-house capabilities also mean costs are low and services offered are highly competitive.

Shane Leahy, Group Chief Executive Officer of Oxygen8 Communications, says, "This has been a strong year for Oxygen8 Communications. Despite difficult market conditions Oxygen8 has seen significant improvements across the Group in turnover and margin and we are planning to further extend our geographical reach this year through acquisitions and investments in businesses that complement our core offering in the areas of interactive media, mobile and voice solutions."

Leahy concludes, "We intend to stay at the very forefront of the market, enabling our customers to benefit from our global reach whilst still giving them the personal service they would expect from a local provider. We plan to increase our staff, enhance our technology offering and broaden our coverage in order to support ongoing business growth across the Oxygen8 Group."