The People's Operator on track to hit subscriber targets

16th Dec 2015 09:27

(ShareCast News) - The People's Operator said it is on track to achieve its target of 69,000 subscribers before the end of the year, as well as cautiously expanding the in the US.The AIM-listed commercial mobile virtual network operator, which is led by Wikipedia founder Jimmy Wales and supports a number of charities by giving them 10% of customers' monthly spend, issued an trading update on Wednesday.It said a number of new marketing initiatives in the US have been well received, and the company has seen an increase in subscriber enquiries and successful subscriber conversions.However with the company mindful of the need to ensure the best possible user experience, it said it intends to continue a cautious expansion state-side.Meanwhile the operator said its UK operations continue to perform in line with expectations, and it expects to reach its target of 69,000 subscribers before year end.The company plans to double that number by the end of 2016 to 140,000 subscribers.As a result, The People's Operator said it expects revenues to be around £8.1m for the next financial year."The large scale investment required to establish the US operation has come to an end and the company is experiencing revenue growth in both the UK and US," it said."While the pace of growth is slower than expected a year ago, the company is making steady progress and the directors remain confident of the long-term prospects for the company."It said it is committed to achieving 2% market share across the US and UK by 2021.