ITV Good Morning Britain host Susanna Reid battled during this morning's programme in what some are calling a "car crash interview" with Utilita energy company boss, Bill Bullen. Susanna sat alongside financial guru Martin Lewis as the pair hosted the show today (December 7).
The Utilita chief executive had been invited on to the show to respond to questions on behalf of dissatisfied customers, according to a report in the Mirror. However, the energy company founder hit back at Susanna after asking, what he termed, an "ignorant" question on the breakfast programme.
Appearing virtually on the show, Mr Bullen insisted his company "prioritise those customers" - before he turned to Utilita’s own financial picture. He said: “The reality is, it’s tough for us right now. We’ve been forced to lose £100million in just three years. How much more are we supposed to do?”
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In the studio, Susanna had the company’s latest financial reports to hand. She read out the figures from the reports, which were submitted in 2021, and invited Mr Bullen to clarify them, asking: “The turnover is £813m, the gross profit is £81m. So your profit is £81m?”
However, the company boss rejected her question. He said: “No, Susanna, I’m really sorry, but that clearly shows that you don’t know how to read financial statements.” With Martin Lewis sitting next to Susanna, he added: “I’m sure Martin sitting right next to you completely understands that it’s the bottom line that counts."
He went on: “The gross profit level is purely a financial term. That’s before you take into account costs of running a business. It’s the bottom line that matters. I know this story has been reverberating around the Twitter sphere for months now, but I’m sorry, it’s ignorance. People just do not understand what they’re looking at.”
Martin then cut in to ask the CEO what the company’s profits were before tax and he said it was in fact a loss. He said: “We’ve been losing probably about £30m a year. During this month of December we estimate we’re going to be losing £1m a day.”
In reference to her profit misunderstanding, Susanna added: “You’re here on the programme to answer the questions, so it’s perfectly reasonable to set out the case. I’m just in the position of saying this is the gross profit which is on your accounts.”
GMB viewers soon made their opinions on the interview known. However, their reaction was divided. Some viewers taking to social media were surprised at Susanna’s misunderstanding while others questioned whether Mr Bullen was trying to gain sympathy at his company's losses.
One wrote: “Wow what a car crash interview." Another echoed: “Susanna really embarrassed herself there - not understanding the difference between gross profit and net profit.” A third added: “I get the problem Bill Bullen and Utilita have...it’s obvious Reid can’t read company accounts.”
However, another viewer added: “All this guy is doing is complaining about his business. Is this how are we living in 2022? Caring more about business than people? It doesn't make sense.” Another said: "My heart bleeds that your business has lost £100m, not. Cry me a river.” Adding to the debate, someone else joined in: “Bloke being interviewed is giving the best possible argument for complete renationalisation of energy supply.”
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