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Only just found this….Profits dropped significantly last year at the UK’s largest fleet owner – Motability Operations Group – in line with tumbling used car prices.
As a leasing supplier to individuals receiving disability benefits, Motability accounts for just over one in 10 of every new cars registered and remarketing end-of-lease cars via its MFL Direct division to franchised dealers
The latest figures for 2023 demonstrated a 35% decline in pretax profits,
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“The latest figures for 2023 demonstrated a 35% decline in pretax profits, dropping from £1.1 billion in 2022 to £748 million in 2023‘
Still plenty for the shareholders to get their grotesque bonuses
“The latest figures for 2023 demonstrated a 35% decline in pretax profits, dropping from £1.1 billion in 2022 to £748 million in 2023‘ Still plenty for the shareholders to get their grotesque bonuses
Motability doesn’t have shareholders – does it?
“The latest figures for 2023 demonstrated a 35% decline in pretax profits, dropping from £1.1 billion in 2022 to £748 million in 2023‘ Still plenty for the shareholders to get their grotesque bonuses
The ‘grotesque’ bonuses actually go to the staff at Motability Operations – all levels, not just directors – which I’ve never agreed with. They should not have a bonus scheme at all IMHO. Profits should be used to bring down APs. So I’m happy that profits are down, because they were excessive.
Motability doesn’t have shareholders – does it?
No.
Yes it does.
as a limited company by very definition it has shares.
Motability has c.9.7M shares in issue although it’s noted as equity in their accounts.also to note they don’t allow dividends to be paid on shares.
I like sitting outside RAF bases all day pretending to be a photogramapher
Yes it does. as a limited company by very definition it has shares. Motability has c.9.7M shares in issue although it’s noted as equity in their accounts. also to note they don’t allow dividends to be paid on shares.
Motability operations ltd responsible for delivering the Motability scheme does not have shareholders.
Motability Operations Group PLC, is the holding company of the charity is owned by an affiliate of Barclays, HSBC, Lloyds, and NatWest however, they are not shareholders in a traditional sense. There role is related to the financial operations of the scheme and as far as I’m aware don not receive dividens.
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