Pipex counts cost of competing with the big boys

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 …

[Kiresh]

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 :(