Cost of living crisis.

[kenny]

1 hour ago, nnfox said:

 

So the British public choose to spend 7 billion pounds in Waitrose, and Waitrose makes less than 14.5m profit?

 

It's the same with the energy and water companies.

 

The profit as a figure is large, as a percentage profit margin it's often under 5%.

 

The press are good at riling people up about it anyway.

[dsr-burnley]

1 hour ago, grobyfox1990 said:

Where did you get those figures from? I’ve had a cursory glance at the Tesco annual statement and can’t see they operate at a 3% margin on cost of goods alone. You can actually download their figures onto excel and play about with them which is cool. Not saying you’re wrong btw just interested, as stated I’ve not looked into it in detail 

From the most recent published annual accounts, Tesco had (round figure) sales of £61 billion, Sainsbury £30 billion, Asda £27.5 billion, Morrisons £17.5 billion, total £136 billion.  67 million people in the UK, so that's £2,000 spend per head.  $4 billion combined profit, that's £60 per head.

 

The Tesco accounts show profit after interest and tax = £1.693 billion, which is 2,76% of their turnover which is £61,344 million per accounts.

[dsr-burnley]

1 hour ago, ozleicester said:

Tesco said it now expects retail adjusted operating profit in its 2022-2023 financial year of 2.4-2.5 billion pounds

Which means they are making less money than in 2021-22, when operating profit was £2.8 billion.  Obviously interest and tax payable, which you have chosen not to quote, bring the figure down to £1.7 billion.  With the fall in operating profit and the increase in interest rates, we can expect 2022-23 profits to be a fair bit down.

[grobyfox1990]

1 hour ago, dsr-burnley said:

From the most recent published annual accounts, Tesco had (round figure) sales of £61 billion, Sainsbury £30 billion, Asda £27.5 billion, Morrisons £17.5 billion, total £136 billion.  67 million people in the UK, so that's £2,000 spend per head.  $4 billion combined profit, that's £60 per head.

 

The Tesco accounts show profit after interest and tax = £1.693 billion, which is 2,76% of their turnover which is £61,344 million per accounts.

Ok so you’re looking at total profit via the income statement not just top line gross taking into account cost of goods sold only. Can see the numbers you’re using 

[ozleicester]

1 hour ago, dsr-burnley said:

Which means they are making less money than in 2021-22, when operating profit was £2.8 billion.  Obviously interest and tax payable, which you have chosen not to quote, bring the figure down to £1.7 billion.  With the fall in operating profit and the increase in interest rates, we can expect 2022-23 profits to be a fair bit down.

[dsr-burnley]

3 minutes ago, ozleicester said:

Yes, £2.825 billion which in round terms I called £2.8 billion.  Next year you say it will be less.  What's your point?

[Daggers]

2 hours ago, ozleicester said:

It might be me, but I don’t trust accounting figures prepared by someone who appears isn’t even in Year 3. 

[Soar Fox]

Has anyone received their £66 gas & electric rebate yet? My DD went out last Monday so was expecting it in my bank within a couple of days.

[Izzy]

33 minutes ago, Steve_Walsh5 said:

Has anyone received their £66 gas & electric rebate yet? My DD went out last Monday so was expecting it in my bank within a couple of days.

Yep. I'm with Eon and they automatically took it off my standard DD amount on the 1st of the month

[KrefelderFox666]

37 minutes ago, Izzy said:

Yep. I'm with Eon and they automatically took it off my standard DD amount on the 1st of the month

Octopus did the same, my DD has been reduced for the next few months.

[Legend_in_blue]

1 hour ago, Steve_Walsh5 said:

Has anyone received their £66 gas & electric rebate yet? My DD went out last Monday so was expecting it in my bank within a couple of days.

Yes it's annoying that EOn have dropped it by 66 quid when I've been paying the 80% increase in prices since May.  I'd rather carry on with that and bank the 400 as credit.

[Jon the Hat]

14 hours ago, kenny said:

It's the same with the energy and water companies.

 

The profit as a figure is large, as a percentage profit margin it's often under 5%.

 

The press are good at riling people up about it anyway.

Absolute figures are indeed pretty meaningless.  Also worth noting these are mostly then paid as dividends which will often incur further tax.

[ozleicester]

13 hours ago, Daggers said:

It might be me, but I don’t trust accounting figures prepared by someone who appears isn’t even in Year 3. 

[FoyleFox]

13 hours ago, Steve_Walsh5 said:

Has anyone received their £66 gas & electric rebate yet? My DD went out last Monday so was expecting it in my bank within a couple of days.

Yes, Octopus have reduced our DD by the £66 and a Gov. credit of £66 has appeared on our account - 5th Oct.

[Sol thewall Bamba]

12 hours ago, KrefelderFox666 said:

Octopus did the same, my DD has been reduced for the next few months.

Same, but I put the payments back to what they were in an attempt to build up some credit without noticing. 

[rachhere]

I just received a payment from British Gas, directly to my bank account. 

[FoyleFox]

5 minutes ago, Sol thewall Bamba said:

Same, but I put the payments back to what they were in an attempt to build up some credit without noticing. 

Same. I've left the DD adjusted, but manually paying the difference plus a bit extra back. Our account was very in debt as we only started with them last Sept and used a shocking amount of gas last winter when the builders were in, we had half a ceiling missing for a couple of months (late Nov onward) and CH had issues with rads not working or missing until Feb. And the DD was too low. Hoping to keep the balance about zero until Feb, build up credit over the summer before our fix ends in Sept.

[grobyfox1990]

1 hour ago, rachhere said:

I just received a payment from British Gas, directly to my bank account. 

I have received nothing. Also with British Gas. I presume you didn’t contact them, but it was automatic? 

[rachhere]

3 minutes ago, grobyfox1990 said:

I have received nothing. Also with British Gas. I presume you didn’t contact them, but it was automatic? 

It was. It only appeared this morning though, so they might be starting working through them?

[Soar Fox]

1 hour ago, rachhere said:

I just received a payment from British Gas, directly to my bank account. 

I received mine today also. Put aside for when my bill is expected to rise in January.

[Tommy G]

Mine came off my bill with EON, I'm about £150 in debit - perfect scanario, I dont want my money sitting with energy companies.

[Daggers]

Everything is fine on normal island. 

 

 

[Bellend Sebastian]

19 minutes ago, Daggers said:

Everything is fine on normal island. 

 

 

Part of the anti-growth coalition I expect, and with zero moral fibre

[Zear0]

46 minutes ago, Daggers said:

Everything is fine on normal island. 

 

 

Just wait for the trickle lads. Soon be in a libertarian paradise. 

[Daggers]

Even the big fat racists are going woke and joining the anti-growth coalition