Pipex told investors today its underlying profits suffered in 2006 because of borrowing to pay for rival ISPs Bulldog and Toucan, and home phone outfit Homecall. Pre-tax profits, hit by bigger interest payments, sank to £4.8m, from £5.1m a year earlier. Margins fell away too, from 46 per cent in 2005 to 38.2 per cent last year …
Their profit would have been even less....
if Pipex's billing department actually knew how to refund customers they'd overcharged.
The Hoff has let me down :(
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