Since RSK last made a pre-tax profit, back in 2016/17, its turnover has grown from £112m to £796m thanks to dozens of acquisitions.
So long as the money keeps coming in to repay the lenders, the board is happy.
In the year to 3rd April 2022 RSK made a pre-tax loss of £38.1m on turnover of £796m (2021: £18.9 loss on £350.5m turnover).
In the same year RSK paid out £39.9m in interest payments (2021: £22.8m).
Over the past three years RSK has lost £72.7m before tax after paying £81.5m in interest repayments.