I do think that it is a real success story for any British small scale car manufacturer to be turning in a profit no matter how small and should be celebrated more in the media particularly with the export market
Look at Lotus' accounts
Bentley, Rolls Royce and Jaguar are all hugely successful manufacturing in the UK with British jobs and get the plaudits but they are not British owned so any profits go out of the country
It's just a real shame that the family trust and family shareholders seem to be in a bitter dispute that doesn't seem to be going away and Charles Morgan is no longer part of the day to day running of the business as he was a great ambassador and spokesman for the business
His shareholding will be important at a voting level but if outvoted then there is nothing he can do
Stewart,
have to disagree, a bit, about JLR, they are Indian owned, for sure, but from what is published a large part of the profits seem to be re-invested in the UK manufacturing. The number of new jobs at the engine factory and the expanded Jaguar factory is some of the best UK Car industry news for many years.
As to CM and Morgan, he is what he is and my view is that without Peter riding shotgun he evolved from being an asset to a liability. To afford a CM type of person the Company needed to be selling twice as many cars and have a very strong Chairman, like Peter. CM is emotional, from her tweets his wife more so. The combination was not a good characteristic to have in the top job.
A small private Company can declare whatever profits the owners agree, as long as the accounts are signed of by the Auditor. As long as the cash flow is positive and the debts, if any, are serviced profit at the bottom line isn't that important. When we ran our Company we worked hard to keep declared profit to a minimum. That is what Directors bonuses are for!!
