“If you don’t believe you are worth £1m, you are probably right,” read a recent job advertisement for Caudwell Holdings, the company behind the Phones 4U chain. John Caudwell, who co-founded the group in 1987 with his brother Brian, is looking for people to take his company’s sales from the £2,036m reported in 2002 to £10 billion by 2010. The company’s profit margins – at 1.5% – are wafer thin but Caudwell has raised a war chest to fund aggressive expansion. He sold Singlepoint, the company’s subsidiary service provider, to Vodafone for £405m last year.
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