Isle of Wight engine failure cancellations after year of massive profits and paying millions to shareholders
From the Southern Daily Echo yesterday: More cross-Solent ferry sailings have been cancelled today (Sunday), due to ongoing work on Red Funnel’s Red Eagle vehicle ferry. The vessel has engine problems, which have forced cancellations since last night. From the Island Echo in August 2023: Prior to this the accounts from 2017-2019 showed WL made net profits of over £50 million. So why would a company that made £50 million pure profit over the previous 3 years need to take the public’s money? Looking into those years revealed that over 90% of that profit was payout as dividends apportioned between Arca Shipping … Continue reading Isle of Wight engine failure cancellations after year of massive profits and paying millions to shareholders
