Thread: P&O Ferries make 800 British Workers Redundant
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Old 18-03-2022, 18:38   #41
1andrew1
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Re: P&O Ferries disgracefully make 800 British Workers Redundant
Quote:
Originally Posted by nomadking View Post
Parent company, and from PRE-COVID times.
The parent company handed over £100m to P&O to cover its losses.
Pretty sure that Covid was around in 2021 which is when its results in question are for.

The losses for P&O were £86m for y/e Dec 2020 and £40m for y/e Dec 2019 with a small profit of £9m for y/e Dec 2018. No other audited figures have been officially reported.
https://find-and-update.company-info...filing-history

But if a subsidiary company is loss-making, then its parent company could see it fall into administration.

If I was DP World and looking for a way out, my inclination would be to sell P&O to DFDS or another competitor. Its current course of action has just reduced the value of the business considerably and I speak as someone previously involved in selling businesses. If you don't have staff loyalty (or any staff) and customer loyalty then the only assets you have for sale are the ships. The business where you add value between the three areas is gone.
Last edited by 1andrew1; 18-03-2022 at 18:46.
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