According to last years financial report, NERL profit before tax was £66.2 million (and this took account of £20.4 million relocation costs from WD to Swanwick).
We allegedly need to save £45m p.a which gave us the figure of a £90m saving before the end of CP2. Apparently our glorious management have already saved us £10m p.a leaving us with £35m worth of slack to pick up.
If there are NO redundancies, and instead NERL takes a £35m hit on their income, then according to last years figures, this would still give them a profit in excess of £30m before tax. This would also allow for the MACC relocation incurring the same costs as the WD relocation.
I know traffic has decreased recently. I have witnessed the downturn personally. However.... How MUCH does it have to decline before our "not for profit" company ceases to turn a profit????
Lets all not forget also, this is before any pension savings over the next two years start to show their impact on the annual profits.....
Last edited by DirtyStopout; 29th Jan 2009 at 20:36.
Reason: to add a P.S ;)