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Sunday, 17 March 2013


I have been investigating RIP OFF STATES OF JERSEY quite closely by applying the following formula to the financial results of companies in similar industrial sectors.

Profit Margin (Profit after tax/Turnover)

This formula applied to British Telecoms 2011 financial results reveals profit margin of (£1.5 billion/£20 billion) or 7.5%. When we apply this formula to the results for Jersey Telecoms 2011 profit margin of (£12.25 million/£108 million) or 11.3%

Jersey Water 2011 makes for more interesting reading with a profit margin of (£4.6 million/£14.8 million) or 31%. By contrast Yorkshire Water which you may be interested to note is owned by a company registered in Jersey made a loss every year since 2009.

Jersey Electricity 2011 had a profit margin of (£8.6 million/£100.5 million) or 8.55% whilst Scottish and Southern Electricity had a 2011 profit margin of (£1.5 billion/£28.3 billion) or 5.3%

The question then is why does the JCRA allow these monopolies to make such supra-normal profits? Who do they work for, the people of Jersey to ensure good value for money of the States of Jersey to ensure high levels of dividends. Our utilities are ripping us off, this is tax by stealth.