It is rediculous the profit made by Tesco as announced today - £2.8 billion. Surely to goodness they should either be taxed on this crazy profit thereby helping the economic climate of the country or be forced to reduce their prices. It is absolutely scandulous this type of profit at the cost of the rank and file public citizen.
Very Little Helps (me)
- Thread starter colin(bridgend)
- Start date
Profit - fair enough but at this rate? - it is not a bit of wander that the cost of living is getting out of control. They should be ashamed to admit to this type of profit when they are both penny pinching when it comes to their suppliers and charging extortionate money at the till for the purchaser. Yet another case of "rip off Britain" but in this case we are being ripped off by our own kind and not some foreign organisation.
I'm with you Colin on this one. We surely have a right to feel that our cost of living is somewhere near the basic cost of production and retailing of the essentials we need to exist, ie food, fuel, etc...
The trouble is that's not the case in this country. The cost of living is all of that, plus billions for the supermarkets, billions for the fuel companies, and billions for the banks.
I've no problem with generous profits for successful businesses - but the way things are in this country it's the companies that dictate the terms, and with the ludicrous profit margins they themselves impose they can hardly fail
They even have the nerve to try to tell us that they are giving us great value!
The media tell us breathlessly that prices have never been so high. Can't they see why??
I always thought that "ringing" of prices was a crime, yet there is no doubt that supermarkets, petrol companies and banks, etc, join together to set and maintain artificially high prices - and shamelessly rip us all off.
The trouble is that's not the case in this country. The cost of living is all of that, plus billions for the supermarkets, billions for the fuel companies, and billions for the banks.
I've no problem with generous profits for successful businesses - but the way things are in this country it's the companies that dictate the terms, and with the ludicrous profit margins they themselves impose they can hardly fail
They even have the nerve to try to tell us that they are giving us great value!
The media tell us breathlessly that prices have never been so high. Can't they see why??
I always thought that "ringing" of prices was a crime, yet there is no doubt that supermarkets, petrol companies and banks, etc, join together to set and maintain artificially high prices - and shamelessly rip us all off.
Parksy
Moderator
At our local supermarket where 'very little helps' the price of corn oil has risen by a staggering 51p per litre in just over a week!!
We don't buy much of it but owners of old type diesel 4x4s have been buying it up to add to their fuel so the profiteering store owners have responded to the higher demand in their usual greedy way.
We don't buy much of it but owners of old type diesel 4x4s have been buying it up to add to their fuel so the profiteering store owners have responded to the higher demand in their usual greedy way.
Nobody rips us off more than energy companies and they are mostly foreign owned. Although North Sea gas is soon to run out they are still producing it. The problem is, in the summer months when we don't use much it is sold off at a cheap knock down price to energy companies on the continent. Come winter they cannot produce gas quickly enough so they buy back the gas they had sold during the winter at highly inflated prices piped in from Belgium. The reason this farce goes on is because we have no storage facilities for the gas.
If this country doesn't kick off the yoke of foreign ownership of our utilities we are open to ransom from any unscrupulous supplier/country in the future. Look at what the Russians are doing at the moment to Ukraine and I believe Georgia.
The French aren't stupid enough to privatise and sell off their utilities to foreign companies whose interest isn't in France but in profit so why do we have to?
If this country doesn't kick off the yoke of foreign ownership of our utilities we are open to ransom from any unscrupulous supplier/country in the future. Look at what the Russians are doing at the moment to Ukraine and I believe Georgia.
The French aren't stupid enough to privatise and sell off their utilities to foreign companies whose interest isn't in France but in profit so why do we have to?
We used to store Methane here at Canvey Island, I used to work there, in massive inground tanks. As far as I know they are still there laying Idle.
Dont know why they stopped useing them.
Edd
Dont know why they stopped useing them.
Edd
We do store gas, but in underground caverns, particularly in the east.
Unfortunately, we can`t produce enough gas to cope with our needs, hence we need things like the Langaled pipeline(think thats spelt correct) which brings in gas from from Norway.
As usual, we had an asset and just wasted the revenue from it.
We really are led by donkeys.
Unfortunately, we can`t produce enough gas to cope with our needs, hence we need things like the Langaled pipeline(think thats spelt correct) which brings in gas from from Norway.
As usual, we had an asset and just wasted the revenue from it.
We really are led by donkeys.
There is also the new gas line laid from Milford Haven through the Brecon Beacons National Park to Gloucester for liquified gas brought into the Haven by ship from the Middle East. Don't know where it goes to from Gloucester - possibly to Screwham Hall in Hereford LOL
Notice the Tesco ladies are keeping a low profile here as the more Tesco make in profit the more shares the staff are awarded.
In South Wales there were problems encountered with the eco-warriors - are they still disrupting the work or have they given up?
Ahem, Colin, as you and LB both know, I don't get involved in politics or contentious issues like this (winking smiley icon thingy).
And as for the shares - well, let's just say they won't keep me in the manner to which I am accustomed.........!! LOL
I thought Soozeeg was a nom-de-plume for your correct title of Lady Braykewynde of Screwham Hall Hereford. You must live a wonderful life as lady of the manor.
OMG Colin, what's LB been telling you???? :-O (shocked icon thingy). If I was a lady of the manor I would hardly be associated with Very Little Helps now, would I? I can categorically state that I do not live in Hereford, and have no more than a passing acquaintance with Lord B (and no, I don't mean that we merely pass each other in the West Wing of Screwham Hall........!!) ;-)
Methinks you've been over-indulging in the VLH Finest Whisky, LOL
Going back to Tesco, their profit against turnover is only about 5.5%.
That is not very much compared to many businesses. It's only their vast turnover that makes it stand out.
We get good insurance deals from Tesco and seem to do well with groceries and other purchases. Tesco employ a lot of people directly and indirectly be they shop workers, suppliers staff or the builder or shop fitter.
Profit means expansion and more jobs, less or no profit is not
so smart.
That is not very much compared to many businesses. It's only their vast turnover that makes it stand out.
We get good insurance deals from Tesco and seem to do well with groceries and other purchases. Tesco employ a lot of people directly and indirectly be they shop workers, suppliers staff or the builder or shop fitter.
Profit means expansion and more jobs, less or no profit is not
so smart.
You know Jason I can go right off you on times LOL. When did you say you were going to New Zealand? Knowing my luck you will probably be contributing to the forum from over there and then making us all envious LOL.
Apparantly they are now the largest employer of staff in the private sector in Wales and are creating more jobs with an expansion of a Tesco Extra in Cardiff and the construction of a new Extra in Risca. I can fully understand the theory of profit being ploughed back in to the business to expand but surely they could also plough some of that profit back into either the wholesaler's account or the wallet of the customer. There is definately a cartel formed between the large supermarkets no matter what the Government inquiry stated - there is one supermarket chain with links to the government so they would not want to upset them.
The gypsy warning back in the 1960s where it was claimed that the supermarket would kill off the High Street private store is correct - now they have the monopoly they can dictate as they see fit. BAH HUMBUG to the lot of them.
Apparantly they are now the largest employer of staff in the private sector in Wales and are creating more jobs with an expansion of a Tesco Extra in Cardiff and the construction of a new Extra in Risca. I can fully understand the theory of profit being ploughed back in to the business to expand but surely they could also plough some of that profit back into either the wholesaler's account or the wallet of the customer. There is definately a cartel formed between the large supermarkets no matter what the Government inquiry stated - there is one supermarket chain with links to the government so they would not want to upset them.
The gypsy warning back in the 1960s where it was claimed that the supermarket would kill off the High Street private store is correct - now they have the monopoly they can dictate as they see fit. BAH HUMBUG to the lot of them.
I am glad that Jason has made the point about the profit to costs ratio. If he hadn't I would.
Yet again, it is tabloid journalism to use the figures in such a way as to sensationalise them and illicit negative support yes
Yet again, it is tabloid journalism to use the figures in such a way as to sensationalise them and illicit negative support yes
One year we have the Welsh moaning that they've lost all those non profit making pit jobs then the next year they are moaning that their biggest private enployer turns a profit ;-)
ps
I knew a potato farm manager, his employer did not like the way Tesco and the supermarkets did business so he pulled out of supplying them.
3 years later the manager and staff were all out of work and the farm was turned in to some sort of sports club and land sold of for housing!
ps
I knew a potato farm manager, his employer did not like the way Tesco and the supermarkets did business so he pulled out of supplying them.
3 years later the manager and staff were all out of work and the farm was turned in to some sort of sports club and land sold of for housing!
It is a well publicised facdt that the Tescos of this world grind their suppliers into the ground. They push them into situations where they have no option but to supply Tesco. If they don't , they go bust as said earlier.
Worse yet is the avarice of "buy one get one free". It's not Tesco who financially support this deal but the poor old supplier!.
We have a small Tesco Express in our little town (5000 people) and yes , I do use it because the produce is usually fresh and the prices are keen. I reckon this little shop must turnover
Worse yet is the avarice of "buy one get one free". It's not Tesco who financially support this deal but the poor old supplier!.
We have a small Tesco Express in our little town (5000 people) and yes , I do use it because the produce is usually fresh and the prices are keen. I reckon this little shop must turnover
My thoughts are I'd rather it Tesco than a foreign store chain, at least they are British. If Wally World bought out Tesco then I'd begin to worry.
Lets all be pleased that it's a British company doing well. Typical of Brits, stirred up by the media, is to knock success and that goes in any sphere of life. For some sick reason the media love to build people up but love it more in knocking them down. All this is followed and believed by a gullible populace. No wonder we are called whinging Poms.
Lets all be pleased that it's a British company doing well. Typical of Brits, stirred up by the media, is to knock success and that goes in any sphere of life. For some sick reason the media love to build people up but love it more in knocking them down. All this is followed and believed by a gullible populace. No wonder we are called whinging Poms.
Just think if we could tap into all that hot air and gas in parliament none of us in the country would fuel problem ever again. There so much hot air gas and bull it could keep the country going for years. Thats if thay do not give it away first of course.
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