Vanco expansion eats into bottom line

16 Apr 2003

UK-based virtual network operator Vanco has released preliminary results for the year to 31 January 2003, which show a 43% rise in turnover, but a sharp drop in operating profit from GBP3.1 million to GBP1.1 million. The fall is being attributed to its global expansion programme which has seen the company boost its presence to 65 countries from 39 previously.