What a pain it must be deciding what to do with the free cash flow that comes pouring through the doors of Northern & Shell.
Last year, Richard Desmond was awarded a £40m pension top-up. This year, the FT informs us, Northern & Shell has decided to purchase an eight-seater Gulfstream G450 for £17m.
The investment is revealed in the latest set of accounts for Northern & Shell, which were filed at Companies House this week.
Lest anyone think a corporate jet outlandish, rest assured: it all makes good corporate sense. According to Desmond’s editorial director Paul Ashford, Northern & Shell has become increasingly international since the launch of OK in the US three years ago.
Hence the need for a corporate jet.
We trust that’s clear. Now if you don’t mind, Mr Desmond would prefer it if you could get back to work. . . especially if you are employed by Express Newspapers. . .
Originally published at Press Gazette, on the Media Money blog.