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.
Equally why our profitable utilities need large injections from the tax payer (Gigabit Jersey), or have such poor infrastructure (mains drains in northern Parishes), for example.
ReplyDeleteJersey 2017, where 100% of homes are connected to fibre optic broadband that most don't want or need, whilst 10% of homes still piss & crap in their back garden soakaways!
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