Feeds

Virgin Mobile gives it up for charity

One per cent of profits for good causes

  • alert
  • submit to reddit

Providing a secure and efficient Helpdesk

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

Security for virtualized datacentres

More from The Register

next story
TEEN RAMPAGE: Kids in iPhone 6 'Will it bend' YouTube 'prank'
iPhones bent in Norwich? As if the place wasn't weird enough
Consumers agree to give up first-born child for free Wi-Fi – survey
This Herod network's ace – but crap reception in bullrushes
Crouching tiger, FAST ASLEEP dragon: Smugglers can't shift iPhone 6s
China's grey market reports 'sluggish' sales of Apple mobe
Sea-Me-We 5 construction starts
New sub cable to go live 2016
New EU digi-commish struggles with concepts of net neutrality
Oettinger all about the infrastructure – but not big on substance
PEAK IPV4? Global IPv6 traffic is growing, DDoS dying, says Akamai
First time the cache network has seen drop in use of 32-bit-wide IP addresses
EE coughs to BROKEN data usage metrics BLUNDER that short-changes customers
Carrier apologises for 'inflated' measurements cockup
Comcast: Help, help, FCC. Netflix and pals are EXTORTIONISTS
The others guys are being mean so therefore ... monopoly all good, yeah?
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.