Privatisation

HC Deb 03 May 1994 vol 242 cc408-9W

Mr. Simon Hughes

To ask the Chancellor of the Exchequer what was the total profit made by formerly publicly-owned companies in the five years prior to their privatisation; and if he will provide a breakdown of this sum by company.

Mr. Dorrell

The table shows the profits made, or estimated to have been made, by privatised companies in the five years prior to privatisation where this information is held centrally and can be obtained without disproportionate cost.

			Pre-tax profit prior to privatisation
Company	Year of privatisation	5 years prior	4 years prior	3 years prior	2 years prior	Final year in public sector
Scottish Hydro-Electric	1991	—	—	—	—	60.3
Scottish Power	1991	—	—	—	—	144.7
Medway Ports	1992	—	—	—	—	3.8
Forth Ports	1992	—	—	5.7	9.9	8.2
Northern Ireland Electricity	1993	—	—	40.1	15.0	64.1
1 Historic Cost convention unless otherwise stated.
2 Nine months' figures only.
3 Current Cost convention.