Good news for the economically illiterate.
This tosh from the RMT:
THE UNBROKEN growth in profits by rail privateer group Govia is an insult to passengers and rail workers alike, Britain’s biggest rail union says today.
Govia posted a ten per cent increase in rail-operating profits to just under £35 million in the second half of 2007.
As regular readers will be aware The Fact Compiler carries no particular candle for Perma-tan Rail.
However, he feels compelled to point out that as Govia's three rail franchises have a joint turnover of circa £1bn a year the sum of £35m represents a margin of just 7%!
And of course this figure was for the six months before we were all plunged into Gordon's Great Depression....
