Beleaguered ISP TalkTalk’s half-year results have plunged into the red, reporting pre-tax losses of £75m due to major restructuring costs.
Sales fell 5 per cent to £856m from £902m the year before.
The firm attributed a chunk of those losses to a £31m bill in associated costs for overhauling its mobile phone business following its announcement in May to “reassess” its mobile strategy.
Net exceptional costs were incurred in relation to decommissioning, asset write-offs, provision releases, onerous supplier commitments and redundancies, said the business.
TalkTalk also took a £59m exceptional charge for costs “associated with impleme…
Read the full article at: https://www.theregister.co.uk/2017/11/15/talktalk_first_half_losses_of_75m/