Feeds

Virgin Mobile gives it up for charity

One per cent of profits for good causes

  • alert
  • submit to reddit

The Essential Guide to IT Transformation

Virgin Mobile is considering channelling one per cent of its pre-tax profits into a charitable trust. The company would let employees decide which good causes the trust would support.

The company is getting ready to float later this month. It is currently outlining its future strategy to institutional investors. The details of the trust will be revealed when Virgin publishes its prospectus for potential investors.

The charitable trust will have a similar structure to the Vodafone Foundation, according to the Guardian. Virgin will donate about £500,000 against Vodafone's £5m. Reports also suggest Virgin is predicting a three per cent share dividend - against Vodafone's two per cent.

Virgin will also detail customer numbers - counting only people who have used their phones in the last 90 days. That is expected to lower its customer headcount but Virgin claims average revenue per user of £145 and the lowest churn rate in the pre-pay mobile industry at just 14 per cent. ®

Related stories

Virgin will float next month
Virgin Mobile edges closer to IPO
Virgin Mobile float is go

Boost IT visibility and business value

More from The Register

next story
Scotland's BIG question: Will independence cost me my broadband?
They can take our lives, but they'll never take our SPECTRUM
iWallet: No BONKING PLEASE, we're Apple
BLE-ding iPhones, not NFC bonkers, will drive trend - marketeers
Trying to sell your house? It'd better have KILLER mobile coverage
More NB than transport links to next-gen buyers - study
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
Speak your brains on SIGNAL-FREE mobile comms firm here
Is goTenna tech a goer? Time to grill CEO, CTO
NBN Co adds apartments to FTTP rollout
Commercial trial locations to go live in September
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.