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Steam Packet hearing halted

A public hearing into pricing at the Steam Packet Company has been halted - after a senior company official elected to take legal advice.

It came after a series of claims about the firm's profit levels were put to senior figures at the Steam Packet, when they appeared before a Tynwald Committee.

John Moss reports:

(Text of attached audio)
The Chief Executive of the Packet Mark Woodward and the firms Commercial manager John Watt were answering questions in a public hearing before the Committee headed by Keys Speaker Steve Rodan and members of Tynwald. It is looking into running of the Packet.

After being probed about pricing structures and services on the craft, it was put to Mr Woodward that their profit quadrupled between 2002 and 2006 from £4 million to £17 million. It was also suggested that in the last financial year, 2006, 36% of turnover was profit.

Mr Woodward conferred with his legal representative and declined to answer the question until he had taken further advice. He is due to appear before the Committee again early in March.


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