Pure Telecom, the Irish-owned telecoms provider, has announced that it reached €20 million in revenue in its most recent financial year ending 2016, up 17% from the previous year. This is Pure Telecom’s best financial year ever, as well as its best-ever revenue growth. The telco, which is celebrating 15 years in business, is now aiming to double its revenues to €40 million in the next three years.
The telecoms provider’s continuous growth, coupled with a high retention rate of customers, reinforces the company’s growing share in a highly competitive market.
The company’s customer base grew 25% in 2016 over the previous year – up 10,000 customers, reaching 42,500. Aiming to reach 100,000 customers by year-end 2019, Pure Telecom expects that growth will lead to a doubling of its current revenues.
Key market factors behind its strong growth in residential and business sectors include a return to popularity of fixed-line telecommunications due to significant increases in broadband speeds, as well as the increased rollout of high-speed broadband to rural Ireland.
To support and drive its projected growth, Pure Telecom is in the midst of a €1.8 million investment round, which will see 32 new jobs in the areas of sales, employee training, customer service and technical support. At the end of the hiring process, the Pure Telecom team will reach 112 people.
Commenting on the announcement, Paul Connell, CEO, Pure Telecom, said: “Pure Telecom is on a continuous growth path and we are gaining momentum thanks to our tireless efforts to provide the best customer service on the market as well as highly competitive pricing. This has led to a very low attrition rate of customers and we hope to gain more customers through additional organic growth.“We operate in a buoyant market. We are seeing a continued increase in consumer and business connectivity needs, driven by online applications, content, as well as on-demand news and entertainment. As people’s expectations for ever-better connectivity rise, so too do their expectations for improved customer service and we have continued to invest in hiring customer service personnel and contact centre systems. This has continued to speed up our reaction times, reduce downtime and improve our customer experience.
“Our goal is to continue to achieve sustainable profitable growth, based on a culture that responds quickly to the evolving needs of our customers and changes in our market. We have exciting plans to remain at the cutting-edge of the telecommunications market and remain committed to delivering the best overall value proposition in the marketplace.
“Now we are looking at becoming a company of 112 people with ambitions – and the means – to grow even further. It has taken a lot of dedication and a fantastic team, but this set of results is proof of the power of people and hard work.”