even this woofer, page-3

Hi Davo,

Maybe you're right - better management might have dealt better with the POG, fuel, labour, etc. combined cost pressures, but they are still the primary cost/benefit factors. Fuel versus POG has improved a bit.

The new guys who have bought in have management consultancy / investment background so that should fix the management failings you identify.

Their kind don't tend to throw a few million at something without due diligence telling them there is a quid in it.