> My provider is Thames Water. They are losing money.
Are they losing money because costs exceed revenue, or are they losing money because they are servicing massive loan interest on money they already distributed to shareholders?
Are they losing money because costs exceed revenue, or are they losing money because they are servicing massive loan interest on money they already distributed to shareholders?
https://www.thameswater.co.uk/media-library/l13deqmw/thames-...
> £1,271 million of expected credit loss provision recognised against the intercompany loan receivable from TWUL’s immediate parent company, Thames Water Utilities Holdings Limited. This balance is fully provided for, as it is not deemed recoverable
However, any money paid to shareholders while accumulating debt, including deferred maintenance, etc was financial smoke and mirrors not actual profit.
but apparently not if you wrap it in half a dozen companies in various tax havens
(that have no legitimate purpose other than various types of laundering)
Poor shareholders, mainly Ontario Municipal retirement fund pensioners, who are the biggest ones (32%) and retired British academics (20%).
They are a scam operation, frankly.