16th April 2012, London – XLN Business Services, the London-based provider of business services to small businesses, has beat other UK telecoms companies to have the fastest growing profits.
XLN has moved up 35 places to #49 in the 2012 Sunday Times Profit Track 100. Last year XLN ranked #84 on the list, which ranks Britain’s 100 private companies with the fastest-growing profits, based on their latest 3 years of available accounts.
XLN has boosted its profits as it expands beyond its discount phone line and broadband roots to help small businesses reduce their overheads with low cost card processing, energy, mobile and Voice over IP phone systems. Founder and Group CEO said, “We won a place on this list because small businesses need us now more than ever to cut overheads. Small businesses are becoming more organised with their finances and cutting costs is a primary concern for them and us. We give business owners fast and efficient service at low prices, which is why 130,000 have left other providers and joined XLN, and so our profits over the last year have risen.” Over a difficult 2 years for the economy, an increase in sales and reduced costs meant profits for XLN rose by 62% a year from £4.5m in 2009 to £11.8m in 2011. ECI Partners, a UK mid-market private equity firm, invested in XLN alongside management, acquiring a majority stake from Zeus Private Equity. The additional investment from ECI gives XLN considerable financial resources to act as a key consolidator in its market.