Virgin Mobile to donate 1% of pre-tax profits?

Howard Lake | 5 July 2004 | News

The Register reports that Virgin Mobile is thinking about donating one per cent of its pre-tax profits to a charitable trust for distribution to charities.

Writing at The Register, John Oates says that Virgin Mobile would encourage its employees to help decide which organisations would benefit from the trust.

Virgin Mobile’s decision will become clear when it publishes its prospectus for potential investors later this month, prior to the company floating.

If the trust is created it will donate an estimted £500,000 a year. The Vodafone Foundation, by contrast, donates £5 million a year.

About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale. He is the founder of Fundraising Camp and co-founder of GoodJobs.