Financial Times FT.com

Virgin Mobile profits hit by IPO costs

By Sharlene Goff in London

Published: November 18 2004 09:35 | Last updated: November 18 2004 09:35

Virgin Mobile enjoyed robust sales growth in the first half of its financial year as the group drew a significant number of new customers but costs relating to its initial public offering dented profits.

The mobile operator, which came to market in July, revealed on Thursday that pre-tax profit had fallen by 24 per cent to £30m, from £39.4m, after costs of £11.7m.

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