20 Sep 2017 18:03:51
Hi Ed, Just seen the annual results have been released. Can you help me make sense of it as I'm terrible with that kind of thing. £90.6m in group revenue and with all the other income we only made £6.9m profit? Is that even good? So if we failed to qualify for the group stages we'd be making a loss?
{Ed007's Note - Jamie's your man for this. Now we've got him I don't need to hurt my brain trying to understand it all :)
20 Sep 2017 22:09:45
Yes it is all good bt share price going in the right direction mate
For me, It's never too good to make such a massive profit even as big as that because bt you are taxed ON your profits mate am surprised at that profit it's certainly well UP on last year and really shows we could have spent a bit more
The club unlike most others has never been in a healthier fiscal position I felt this would happen and indicated to anyone interested they should invest in shares of the club and the share price has jumped 30 % since then
Once the hotel goes up that 180 bedroom hotel will only add to value in my opinion there is nearly £100 million in difference between us and Sevco in value bt now that is what I call a gap mate (y)
20 Sep 2017 22:13:39
Think this is why accountants were invented, revenue was £90.6 million, expenses are £76.3 million, so the difference is £14.3 million, but the profit before tax is £6.9million, but then the debt to the bank is £ 17.9 million, so that has to be serviced, so that is whatever, but is that not in the expenses?, don't ask me, I am not an accountant, I am a nosy bastard.
21 Sep 2017 19:17:20
Thanks for explaining it, Thought that didn't seem too much money for how well we've been doing. Be interesting to see the other lots figures no doubt operating at huge losses fielding a team they can't afford to keep pace with us. It is good to know we can be comfortable with the squad we have and still make profit if only everyone followed suit.
22 Sep 2017 03:32:17
jamie: the one question about our financial results I have is this:
Our Operating expenses increased by 33.3% to £76.3m: That to me is a bit concerning. Now is that players/ managers wages or just overall cost: if that's the case and we don't make it into the group stages of the CL then we are down a lot of money which will impact on our operation/ Profit/ loss:?
22 Sep 2017 15:59:52
Peter mate, no getting away from the fact BR is on a much bigger wage than RD but you will have player / staff bonuses for reaching the CL plus matchday costs, travel, hotels etc.
Having made the CL we are up circa 75% n turnover mate but profits are up by my reckoning £1,150 % that is stupid IMO our accounts run to the end of June our last profit was £600k mate but TEN days later Ncham arrives through the door that was daft IMO because our profits are subject to TAX! Make a profit by all manner of means but not that at that level I cannot see DD being happy at that PROFIT margin mate for that reason UNLESS he is thinking of moving on and showing any incomers we make that kid of profit ;-/
If we don't make CL we just cut our cloth accordingly and to be fair they have that down to a fine art mate IMO alneit sometimes it is at the expense of the product on the park (Y) Enjoy Portugal BTW.