The Prankster wonders whether ParkingEye will be issuing a profits warning soon.
Large numbers of motorists are cottoning on that their charge levels are too high, and appealing to POPLA, where ParkingEye do not even bother to defend the appeal. Motorists can appeal by themselves, but it is better to get help from forums like MoneySavingExpert and pepipoo, where success is guaranteed.
For motorists who are busy and do not have the time to spare, services such as ParkingTicketAppeals will do the work for you. ParkingTicketAppeals alone are costing ParkingEye over £1 million a year in lost revenue, and another £250,000 in POPLA fees. They charge £16 and guarantee that your ticket will be cancelled or they will pay it for you.
ParkingEye's operating profit in 2013 was £1.6 million. Taking the figures at face value and assuming no other change, this means their current profit could be slashed to £350,000. If a few more motorists become aware of services like ParkingTicketAppeals, then ParkingEye's accounts could easily slip into the red.
The Prankster will keep an eye on the situation, and an ear to the newswires to see if a profits warning is in the offing.
One way for ParkingEye to resolve the situation would be to set their charges to a level which is a genuine pre-estimate of loss. This was shown to be just under £20 in ParkingEye v Beavis and Wardley. Currently, with charges at 5 times this level, they are in breach of the British Parking Association code of practice, which requires that charges be set at a genuine pre-estimate of loss.
The Parking Prankster