(24 Jun 2022, 8:16 am)Storx wrote Profits mean nothing during Covid.
The £20m a year black hole between income and costs is the bigger issue which unless something has changed in terms of numbers growing massively then there's a big problem.
The period is July 2020 to June 2021, per their accounting year. The something that has changed is that there's now no rules or guidance restricting movement, so whilst passenger numbers are still reportedly down, it's within the company's power to do something about it (or swing an axe around)
The most interesting bit I found in the annual report was this claim: "Brexit continues to be a focus for the business following the UK's exit from the EU. Whilst there could be an impact from lower tourism into the area the principal affect is likely to be on availability of driving staff, however this is not considered to be a risk that could materially impact Go North East Limited."
...try telling that to the customers impacted daily by cancellations!
