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Tesco Mobile has hit a new high with 4.6 million subscribers

Tesco has revealed their 2015/2016 financials which were published today.

The number of customers subscribing to the MVNO has increased to 4.6 million according to the supermarket giant's preliminary 2015/2016 financials.

Financials for the three months ending Febryary 27 show a five per cent increase in Tesco Mobile subscribers with a £944 million operating profit throughout the year.

Tesco Mobile logo

Tesco CEO Dave Lewis has commented on their recent success saying, "We have regained competitiveness in the UK with significantly better service, a simpler range, record levels of availability and lower and more stable prices."

"Our balance sheet is stronger and we are making good progress in rebuilding trust in Tesco and our investment case. More customers are buying more things more often at Tesco."

Tesco Mobile currently piggybacks of the mobile network operator O2 but have recently expressed interest in purchasing the remaining shares of its joint venture with O2, thus becoming their own MVNO.