Irish Business Thread

[square_ball]

Ian Og and Allister have the begging bowls out to Boris on behalf of Wright Bus already. From reading through the posts above and on Twitter it sounds like a strange setup.

[trailer]

Look the jobs might serve one community more than the other, but its 1400 jobs that all filters into the wider economy and they need supported / retained. Ian Paisley and Jim Allister doing the exact same as Colum Eastwood and Elisha McCallion would do if was Derry. Remains to be seen if they are successful. Lets hope they are.

[marty34]

Is this Brexit related?

[omaghjoe]

 £181m sounds like a very low turnover for a company of 1800 employees. Sure thats got to be minimum of £50m in wages before they have even started into overheads and materials which must be considerable. Surprised they made any profit TBH

Sounds like they were walking a tightrope and they were always just about making it over the line......until they didnt.

[screenexile]

£181m sounds like a very low turnover for a company of 1800 employees. Sure thats got to be minimum of £50m in wages before they have even started into overheads and materials which must be considerable. Surprised they made any profit TBH

Sounds like they were walking a tightrope and they were always just about making it over the line......until they didnt.

Thought that myself how can a company survive on a margin of 0.66% is beyond me and that's 2017 it sounds like 2018 is going to be a considerable loss!!

I hope they can do something that's a serious amount of jobs to hemorrhage!

[RadioGAAGAA]

... and who knows how many in the local supply chain.

[Franko]

£181m sounds like a very low turnover for a company of 1800 employees. Sure thats got to be minimum of £50m in wages before they have even started into overheads and materials which must be considerable. Surprised they made any profit TBH

Sounds like they were walking a tightrope and they were always just about making it over the line......until they didnt.

Thought that myself how can a company survive on a margin of 0.66% is beyond me and that's 2017 it sounds like 2018 is going to be a considerable loss!!

I hope they can do something that's a serious amount of jobs to hemorrhage!

0.66% is extremely low but typical margins in manufacturing here would be low single figures of percent.

Like someone said above, manufacturing in general here is walking a tightrope.

[Franko]

... and who knows how many in the local supply chain.

Taking into the account the effect on local subbies, I'd say that 1800 figure would double.

[square_ball]

Look the jobs might serve one community more than the other, but its 1400 jobs that all filters into the wider economy and they need supported / retained. Ian Paisley and Jim Allister doing the exact same as Colum Eastwood and Elisha McCallion would do if was Derry. Remains to be seen if they are successful. Lets hope they are.

Oh absolutely you're right in cases like this it's the wider chain supply that is highly affected. But I just find it hypocritical that Wright Bus are blaming their difficulties on uncertainty over Brexit when their founder openly endorsed  for Brexit.

But as others have commented it sounds like this day was always going to come sooner or later. I see on twitter they made a nice wee £4m donation to their church leaders.

[Tony Baloney]

Look the jobs might serve one community more than the other, but its 1400 jobs that all filters into the wider economy and they need supported / retained. Ian Paisley and Jim Allister doing the exact same as Colum Eastwood and Elisha McCallion would do if was Derry. Remains to be seen if they are successful. Lets hope they are.

Oh absolutely you're right in cases like this it's the wider chain supply that is highly affected. But I just find it hypocritical that Wright Bus are blaming their difficulties on uncertainty over Brexit when their founder openly endorsed  for Brexit.

But as others have commented it sounds like this day was always going to come sooner or later. I see on twitter they made a nice wee £4m donation to their church leaders.

Their church leader is Jeff Wright, son of the owner of Wrightbus. 

[imtommygunn]

The town of Ballymena has been hit pretty hard by Gallaghers and Michelin shutting. Would've be good for it to have more.

[paddyjohn]

Absolutely no doubting that if they go under it will have a massive impact on Ballymena and surrounding areas, I know 12/15 lads who work in the place and the same again who are sparks and joiners who are subbed in.

I don't think the family themselves will get much sympathy around the town due to the activities of a few family members and the cult that's being built on the way into Ballymena. In fact the local building firm who got the contract of building the village actually started to take some of it back down until they got paid.

Willie Wright was a massive supporter of Brexit and all it stood for.
Some decent highly skilled people and their families will be left high and dry over the head of a mad man.

[trailer]

Look the jobs might serve one community more than the other, but its 1400 jobs that all filters into the wider economy and they need supported / retained. Ian Paisley and Jim Allister doing the exact same as Colum Eastwood and Elisha McCallion would do if was Derry. Remains to be seen if they are successful. Lets hope they are.

Oh absolutely you're right in cases like this it's the wider chain supply that is highly affected. But I just find it hypocritical that Wright Bus are blaming their difficulties on uncertainty over Brexit when their founder openly endorsed  for Brexit.

But as others have commented it sounds like this day was always going to come sooner or later. I see on twitter they made a nice wee £4m donation to their church leaders.

I don't think they're blaming brexit. It's lower levels of demand for new buses. Their buses are actually cheaper than ever for overseas companies due to the weak pound.

[APM]

https://www.belfasttelegraph.co.uk/life/features/meet-the-man-whose-dream-laid-foundations-for-a-new-superchurch-in-co-antrim-36362100.html

Did you know God is a shareholder in Wrightbus?

[johnnycool]

£181m sounds like a very low turnover for a company of 1800 employees. Sure thats got to be minimum of £50m in wages before they have even started into overheads and materials which must be considerable. Surprised they made any profit TBH

Sounds like they were walking a tightrope and they were always just about making it over the line......until they didnt.

Thought that myself how can a company survive on a margin of 0.66% is beyond me and that's 2017 it sounds like 2018 is going to be a considerable loss!!

I hope they can do something that's a serious amount of jobs to hemorrhage!

0.66% is extremely low but typical margins in manufacturing here would be low single figures of percent.

Like someone said above, manufacturing in general here is walking a tightrope.

Depends on the industry I suppose, but if your margins are that low then the slightest market bump or pimple is going to leave you exposed.

Is that common in this industry as I know of a previous company I worked in the margins were almost 200% but that was to cover very heavy development and R&D costs.