Profit and Shareholders

I am disappointed that the deal I signed up for is already more expensive. Please can I ask how much profit Bulb made last year and how much was passed to shareholders.

I am disappointed that the deal I signed up for is already more expensive. Please can I ask how much profit Bulb made last year and how much was passed to shareholders.

I don’t profess to understand most of it, but you check out the accounts at: https://beta.companieshouse.gov.uk/company/08469555/filing-history

Given that they raised investment from shareholders at the end of 2017, it would be highly highly unlikely that any dividends are being paid to shareholders! They’re a start-up so any profit is going back in to building the company… that’s what their shareholders would expect.

(Also, in the latest accounts we can access at Companies House, they actually posted a loss so there’s no money to give shareholders even if they wanted to! That’s quite normal in an early-stage startup.)

There was an article in the Times this week about Bulb which said that they make about £50 gross profit a year on each customer but are loss making overall as they grow the business.

@Coldcomfort as @alex says, in this article: https://www.thetimes.co.uk/article/bulb-saw-the-light-and-set-out-to-change-system-kjr93qqx0 Hayden confirms we’re currently loss-making (because we’re investing in growing the business) but about £50 on average, per member, per year, is gross profit.