RE: The Times aricle : Grant Shapps, the Titanic shipyard and a Scilly ferry battle7 Jan 2024 14:29
It all comes down to numbers. The Pirou bill is 42 million. The Isle of Scilly steamship company have to pay the remaining 9 million( loan 33 mill) The annual profits are just not sufficient to pay the interest and pay down the capital and have any sort of L/T contingency float)
It is utter madness and that is before the consideration of a competitor ( H &W) Even raising the fares would imo make it practically impossible to service. It requires heavy subsidy ( the LUF funding) for any longevity. Look at the accounts for the last few years and note the Covid pandemic pyts.
The govt are entirely justified imo to be 'dismayed' at a foreign shipyard being selected. Without government intervention it is questionable if they'd be in a position to even consider such a venture.
Regarding domicile of shareholders , I believe primarily owned by islanders.
What evidence do you have Broomtree to support your statement that this is no longer the case ?
Very few shares traded on assest match.
I agree with Dawski.
Great publicity. 👍