Summary
THE group behind the phones 4u chain - Mobileserv UK - has bucked the trend among private equity-owned firms by revealing a profit even after paying interest on its huge borrowings.
Providence Equity Partners raised profits at Mobileserv UK by 40 per cent to Pounds 16.8 million in 2008, despite paying itself a huge dividend shortly after buying phones 4u and associated brands in 2006. The figures, just filed at Companies House, are in contrast to those often posted by private equity-backed businesses, which often include punishing interest payments on the loans used to buy the companies in the first place, dragging them into loss.See the full content of this document
Extract
Phones 4u Bucks Private Equity Losses
Phones 4u is understood t...
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