Over £14 million in revenue generated since 2014, with growth achieved through organic growth, cross-selling and major wins
Elitetele.com Mobile expects a mix of organic growth and cross selling to help it achieve a record £6.7 million turnover by the end of its financial year in July.
The London-based Vodafone, O2 and EE dealer has more than 6,000 customers and achieved a milestone £6 million turnover last July. More than £14 million in revenue has been generated by the business since 2014.
Telecoms provider Elite Telecom completed the acquisition of Qualitel Voice and Data in April 2014, which then became Elitetele.com Mobile last November. Just three months earlier, the dealer had been named ‘Platinum Partner of the Year’ by Vodafone.
Mike Ridgway (pictured), who founded Qualitel in Newcastle-under-Lyme in 2003, continued as managing director of Elitetele.com Mobile.
Elitetele.com COO Russell Horton said he has successfully led the growth in gross margin in his division for the first two years since acquisition of 83 per cent up to March 2016, with another impressive year in progress for the 12 months ending March 2017. He added Ridgway is on track to double gross margin over the three years.
Growth ambitions
“This growth has come as a result of a combination of organic growth, cross-sales and some major new wins,” said Ridgway.
“We will exit July this year on turnover of £6.7 million and deliver 10 per cent year-on-year growth to the end of July 2018 by focusing and repeating what we know works.”