Another week has passed with no work going on at Summit Aviations nice new building at Manston. The UK construction and development business is in hard times and perhaps CGP are feeling the pinch as well. The graph above shows CGP's share prices in decline with a fall from 163p in February to 125p this week. Here is a snippet of business news:
"The company, which listed on AIM in February last year, reported a pretax loss of 1.53 million pounds for the period from July 6, 2006, to Nov. 30, 2007. No revenue was reported and expenses came in at 1.47 million pounds."
Here is what Ken Wills had to say about this 'maiden' loss:
"... given its excellent relationships in China, CGP is in a position of strength to capitalise on the current need for Chinese businesses to globalise, which will enable the company to grow its business and shareholder value," said chief executive Ken Wills. "
Regular readers will not need to be reminded that there is a serious risk posed to one of Thanet's main drinking water aquifers by China Gateway and that The Environment Agency has already written to TDC and Mr Wills' agents stating it will oppose anything other than MAINS SEWERAGE removal, off the proposed development and away from our aquifer.
The IOTG reported on Friday that Mr Wills intends to stick to the plans submitted for an 'on-site' treatment plant (Klargester septic tanks etc) as it would provide a CHEAPER and sustainable solution to disposal of foul drainage. We all know its cheaper, because that is why CGP have gone for this option in its plans but SUSTAINABLE? What utter nonsense. Mains sewerage is sustainable and more importantly, SAFE, but of course costly.
There was no admission that CGP is even listening to what its own consultants are saying about the risks to this aquifer let alone what The Environmental Agency is telling CGP and our own Council. I trust our own Council Planning Committee will not think fit to ignore what the Environmental Agency is saying, as it has stated quite clearly that it will object to any cheap septic tank proposal.
So are we to see CGPs urgent necessity to make more profit on this application (as its loss last year and present share price indicates it needs to make) come before the need to protect our drinking water?
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