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Thread: £800k loss
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13-01-2015 09:23 AM #2
Not a surprise given the circumstances of last season. I was expecting it to be worse.
What is shocking is the TV income considering the amount of games and dodgy kick-off times that we were involved in. Maybe time to have a look at how the money is distributed.
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13-01-2015 09:35 AM #3
Can't see it being much better this year, with reduced attendances, unless we get to the cup final
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13-01-2015 09:43 AM #4
Yes, some were (quite reasonably) expecting a loss of around £1m, so not as catastrophic as that. However, turnover fell to £5.8m (drop in ticket sales being a major factor here) so in % terms that loss is pretty heavy. A fairly awful set of results however you cut it.
Also, the pay off (or extended gardening leave) for Butcher isn't covered by these results, although any compensation paid to ICT will be. Salary costs will be up again this season with all the new staff on board. Credit to Pat Fenlon for not waiting around for a pay off too - a man of integrity, regardless of any shortcomings in his tenure as manager.
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13-01-2015 09:46 AM #5
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13-01-2015 09:52 AM #6
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Debt was £6.3 m to bank and £3 m to holding company.
Anyone still think the bank have written anything off?
Looks like £5 m debt continues and £4.5 m swapped for equity so there doesn't seem to be any hit for the bank.
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13-01-2015 09:57 AM #7madhatterLeft by mutual consent!This quote is hidden because you are ignoring this member. Show Quote
I'd be very disappointed if we registered a high loss this year with our current squad size and our exceedingly expensive ticket prices (£405 ST and £20-22 per game).
Having said all this, performances must improve (drawing 3-3 at home against Falkirk and dropping 7 out of 9 points to them is not good enough). We have the ST prices of a top 4 team in the Premiership and we have the results of a half-decent Championship club. Performances ultimately in sport define the financial side of the business.
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13-01-2015 10:01 AM #8This quote is hidden because you are ignoring this member. Show Quote
These figures are as things were at 30th June 2014.
There might be an after end of year note in the accounts when they are issued.
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13-01-2015 10:03 AM #9
No big surprise at the level of the loss but I can't help thinking it'll be much worse in the next set of accounts.
The pathetic level of money we currently get from TV and lack of a League Sponsor contributes to the problem but there's little the club can do about this on its own. If the Head Honchos at the SFA/SPFL concentrated a bit more on selling our game and a bit less on predicting Armageddon, we might not have this problem.
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13-01-2015 10:13 AM #10
Kind of shows how important a good run in the cups has been, and will be, to us. If we don't go up this season we will probably make it though another one, but failure to go up then will be a disaster.
The question is, if we are doing this badly what's the score with other clubs? If the SFA / SPFL don't get the finger out full time football is going to be restricted to a handful of clubs. Its time to reorganise the leagues and give summer football a shot. The last two games at ER its been freezing. Following a humping of the Zombies and a decent showing at the Wonga dome a crowd over 11K wouldn't have been unreasonable, I cant help thinking folk were put off by the cold.
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13-01-2015 11:10 AM #11This quote is hidden because you are ignoring this member. Show Quote
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13-01-2015 11:18 AM #12
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13-01-2015 11:25 AM #13
Track side advertising and shirt sponsorship would be less if no live TV.
A few sums need to be done.
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13-01-2015 11:26 AM #14This quote is hidden because you are ignoring this member. Show Quote
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13-01-2015 11:27 AM #16
Has the financial genius that is Rod Petrie now posted losses in 3 out of the last 4 years?
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13-01-2015 11:29 AM #17
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13-01-2015 11:33 AM #18
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We will have made some additional losses since then but it suggests tge bank got all or a very large chunk of their money.
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13-01-2015 11:58 AM #19This quote is hidden because you are ignoring this member. Show Quote
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13-01-2015 12:11 PM #20
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13-01-2015 12:16 PM #21This quote is hidden because you are ignoring this member. Show Quote
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13-01-2015 12:20 PM #22This quote is hidden because you are ignoring this member. Show QuoteThis quote is hidden because you are ignoring this member. Show Quote
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13-01-2015 12:22 PM #23This quote is hidden because you are ignoring this member. Show Quote
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13-01-2015 12:26 PM #24This quote is hidden because you are ignoring this member. Show Quote
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13-01-2015 12:28 PM #25This quote is hidden because you are ignoring this member. Show Quote
And, while you're at it, give him the credit for the £500k parachute payment that will offset our loss this year.Last edited by CropleyWasGod; 13-01-2015 at 12:32 PM.
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13-01-2015 12:31 PM #26This quote is hidden because you are ignoring this member. Show Quote
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13-01-2015 12:32 PM #27This quote is hidden because you are ignoring this member. Show Quote
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13-01-2015 12:33 PM #28
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The £4.5m is effectively being written off as the shares it is being swapped for are not worth a whole lot.
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13-01-2015 12:33 PM #29
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The loss is bad news and will restrict us in future. It looks like the proceeds of the share issue to fans will be used up in covering operating losses for this and last season. Even if we manage to get promotion this season there won't be much left for spending on players.
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13-01-2015 12:37 PM #30This quote is hidden because you are ignoring this member. Show Quote
It's not £800k added to the £5m parent company debt.
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