THE boss of Utilita blasted Good Morning Britain presenter Susanna Reid saying she failed to understand his company's financials in a firey exchange.

Bill Bullen, who set up energy provider Utilita from his home in Chandler's Ford, hit out in a terse interview on GMB on Wednesday.

When Susanna Reid asks Mr Bullen about his company's £81m gross profit he berates the presenter, who is sitting next to Money Saving Expert's Martin Lewis.

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He says: "No Susanna. I'm really sorry but that clearly shows that you don't understand how to read financial statements.

"I'm sure Martin who's sitting right next to you completely understands that it's the bottom line that counts those, the gross profit level, but that's purely a financial term.

"That is before you take into account all of the costs of running a business

"It's the bottom line that matters.

"Now, I know this story has been reverberating around the Twittersphere for months now, but it's from, I'm sorry, it's from ignorance.

"People just do not understand what they're looking at."

Asked by Money Saving Expert's Martin Lewis about the company's financial position, Mr Bullen adds: "It's a loss.

"We've been losing probably about £30m a year.

"So during this month of December, we estimate we're going to be losing £1m a day."

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