The Phone Co-op has posted a 4.2% increase in sales for the first six months of the year. The consumer co-operative saw sales reaching the £4.5 million mark for the period 1st September 2013 to 28th February 2014.
Mobile services experienced the highest growth with sales going 37% up at £247,000. The other factor contributing to these good results was teleconferencing after The Phone Co-op's takeover of Community Network last summer, which added £118k to the business.
The Phone Co-op's Vivian Woodell said: "We're delighted to report such strong growth, especially considering prices and sales continued to fall in our industry. Mobile sales growth has been particularly strong and in the first six months of the year have nearly equalled those of the whole 2011-12. This start of the year has laid solid foundations for two important developments - the launch of the new Pay As You Go service in the spring and the acquisition of Namesco's broadband services in May."
The Phone Co-op also built up its reserves passing £1 million for the first time and reported growth in members' share capital by 15% to a new record of £4.65 million.