Wales
by Joske Vermeule, September 1
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Jun 14th, 2026
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Joined: Mar 2013
Posts: 1,016 Likes: 2
Has a lot to Say!
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OP
Has a lot to Say!
Joined: Mar 2013
Posts: 1,016 Likes: 2 |
Looks like MMC are having a hard time right now, having read this; Sunday Times MMC Article £700k profit on £35M sales with almost half of that set aside for a fighting fund....?! Might explain why warranty issues aren't being addressed very quickly these days? I do hope they hold things together, as the world would be a much sadder place without Morgan, noisy BB's or not....
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Joined: Oct 2013
Posts: 6,723 Likes: 2
Talk Morgan Sage
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Talk Morgan Sage
Joined: Oct 2013
Posts: 6,723 Likes: 2 |
Ah yes, that family again..
The only winners are the legal eagles, of course. A wise barrister once admitted to me that only fools go into court on principles.
Steve
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Joined: Aug 2013
Posts: 398
Learner Plates Off!
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Learner Plates Off!
Joined: Aug 2013
Posts: 398 |
Music to a lawyer's ears. "It's a matter of principle"
Oct 13 build 4/4
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Joined: Feb 2011
Posts: 14,009
Member of the Inner Circle
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Member of the Inner Circle
Joined: Feb 2011
Posts: 14,009 |
Unless you can get access to the full accounts I'd take the figure quoted by the Sunday Times, with a pinch of salt.
Jays
Former Morgan owner. Gone but hopefully not forgotten!
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Talk Morgan Addict
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Talk Morgan Addict
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In a good way - or a bad way Jays?
Paul
[At last, I have a car I can polish]
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Joined: Feb 2011
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Member of the Inner Circle
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Member of the Inner Circle
Joined: Feb 2011
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In a good way - or a bad way Jays? I've no idea...its just that having come from a financial background I don't like bald figures like that being quoted without knowing the rest of the story.
Jays
Former Morgan owner. Gone but hopefully not forgotten!
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Joined: May 2009
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Green & Grown Up Talk Morgan Addict
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Green & Grown Up Talk Morgan Addict
Joined: May 2009
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I would agree with Jays. 
There are many more measures by which financial performance needs to be assessed. 
It is this sort of sensationalist journalism that often does untold damage to confidence. 
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Joined: Jun 2014
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Wave & smile... It's a Morgan Member of the Inner Circle
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Wave & smile... It's a Morgan Member of the Inner Circle
Joined: Jun 2014
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a company's financial results are judged against what the shareholders want out of the business
If there is no desire to sell or raise money for investment or raise money on a stock market and cash flow is good, directors are paid well and shareholders are getting a bit of a dividend then why post a large profit - it just gets taxed
Better to show a small profit so shareholders can still get a divi but reduce tax liabilities
As far as I know Morgan is held in a family trust and if there is no exit strategy within the next few years and sales are maintained with a small growth then all good
2008 XXVII Platform, Bugatti Blue Roadster 4 Seater
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Joined: Aug 2011
Posts: 898
Talk Morgan Regular
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Talk Morgan Regular
Joined: Aug 2011
Posts: 898 |
The accounts for both Morgan Technologies the holding Company and the Morgan Motor Company have been posted for the year ending Dec 2013. No car production figures that were advised in previous years accounts are advised in the 2013 accounts. Go to http://companycheck.co.uk/and create an account and you can download them for free. Otherwise post your email account in a PM and I will send them to you.
Last edited by Eddie Cairns; 28/09/14 05:47 PM.
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Joined: Aug 2011
Posts: 898
Talk Morgan Regular
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Talk Morgan Regular
Joined: Aug 2011
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a company's financial results are judged against what the shareholders want out of the business
If there is no desire to sell or raise money for investment or raise money on a stock market and cash flow is good, directors are paid well and shareholders are getting a bit of a dividend then why post a large profit - it just gets taxed
Better to show a small profit so shareholders can still get a divi but reduce tax liabilities
Eric I'm not an accountant but I was of the opinion that the various accounting standards do not allow the directors to only post the profit that suits them rather than the true profit of the company. Are you saying the amount of profit a company posts is at the discretion of the directors?
Last edited by Eddie Cairns; 28/09/14 05:54 PM.
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