Thursday, 23 March 2017

CONFIRMED: Rangers move into profit


Rangers have today confirmed an increase in revenue of £5.3M was achieved last year leading to a modest profit for the period of June-December by comparison with the same time frame of 2015.

In the latest financial review, operating expenses increased by over £4M with obvious sources being massively increased player wages, while income equally rose as mentioned mainly due to season tickets, higher attendance in general and hospitality packages which contributed well over £3M to the Club’s coffers.

Overall profit for the period was just under half a million, while the same period in 2015 was a loss of around the same amount.

Going by the latest numbers, Rangers are indeed on course for sustainability, with present levels of fiduciary responsibility appearing to stable the company as a whole and make the entity viable as a long term economic system.

However there is still much work to do and the Sports Direct acrimony was yesterday put on hold yet again in court to be continued at a later date.

You can read the full results here.

But we are on the right track…

16 comments:

  1. Correct. We are on right track. We must be patient with King. It's easy to scream at him to put in money but until Ashley is sorted his hands are to some extent tied. Also I would expect a new share issue once legal are sorted. Club 1872 must also sort itself out. Warburton was a failure. King saw it before most. His denials re Nottingham are not believable. That financial problem must also be sorted.

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    1. Alan, very well said. Patience is needed, we will enjoy the good times even more, by never ever forgetting the dark. Warburton , in my opinion, never wanted to be here very long, when I met him several times, he always complained about having '8 hours',only with family, he promoted us, but unreliable. Finances are so important, I would rather toil, for a few years , than be back in a mes, so well done!.

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  2. The sheer gullibility is amazing.

    Smoke and mirrors from king as usual, and still people believe him.

    After Murray, whyte, green, Ahmed, Ashley to name but a few I seriously thought that fans would wise up.

    Seemingly I'm wrong.

    Let's see a proper independent audit, if king would allow, which he won't.

    Let's see if his 'soft loans' buying up club on cheap and preventing outsiders investing, is or is not included. If they are then the profit is a big loss.

    In my view a well orchestrated piece of fake news designed to distract and to convince the gullible that all is going well- just in time for season ticket renewal time. What a shock.

    Seriously guys wise up.

    Ps where is the supposedly number one priority- the promised director of football?? Forgotten already.

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    1. I am slightly bemused as to what you would wish to happen my friend if these guys walk away there is NO ONE waiting in the wings ...not sure where you get the bitter and negative thoughts

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    2. 'Bitter' - Bitter about what exactly? Wanting the best for your club isn't bitter. Ridiculous statement.

      'Negative' - the usual word used by intellectually challenged to ANY form of criticism, irrespective of how warranted. Got the same when pointed out failings of Warburton, coisty, green, whyte and Murray. So it must be negative to see reality?

      You also seem to have zero clue about financial affairs- if we were put back in stock exchange people could trade shares as they wish. There is always a buyer at the right price. Currently all the fans who invested have lost their money due to the way king has run the club. His failure to list also removes any possibility of a share issue, where we could raise significant cash. But you probably think that is ok because king is a 'rangers man'.

      Did you not notice the public statements about kings conduct or did you simply listen to his lies and excuses?

      No wonder your bemused.

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  3. This indeed great news for those of us who have total belief in King and the Board .How long have we waited to hear the word profit .We will be selling some of the Warburton dross soon too an hopefully replacing it with better and more solid players .Future looks bright ....just Fat Boy to get rid

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  4. I'm surprised how many media outlets are printing the assertion that Rangers "moved into profit" when the unaudited financial summary itself (the one you provided a link to) clearly shows a "loss for the period" of £238,000 as compared to £288,000 for the comparable six-months a year ago.

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  5. Yes, this is great news, ive heard that King will finally open the warchest now that he has gotten rid of Warburton once and for all. Caixinha is expected to have around £11m to spend in the summer, possibly more if wages are freed up.

    Going for 55 this time, no surrender.

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    1. I hope your club does have money to spend then my club will be forced to spend more... But come on what makes you think anything will change with all the king crap about the takeover plus court cases.

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    2. I just could not take that in

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  6. How can a loss of 238K be a profit?

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  7. While things may look, after one game, to be heading upwards and some belief in the new manager, there will be one huge step backwards if the likes of 'bomber brown' get anywhere near....we don't need him or his vitriol....he is old news and its time Rangers fans realised, the past and the history are great...but you don't have to be stuck in it or have to drag it along!!!

    As for our career criminal chairman, well I see his company was once again fined for breaching trading rules in SA, it probably goes unnoticed but its quite a common occurrence, well when you have a rap sheet for fraudulent activities as long as anyone's arm, what's another little fine on the SA Stock Market, never let the truth get in front of a good lie has always been his motto and as long as people continue to be suckered by his spin and bluster the longer he will keep going.

    For those who still dream of big Dave's war chest arriving on our shores any time soon, I wouldn't hold out too long, it wont be happening...simply because he doesn't have one, oh and if he did, he wouldn't be able to move it out of SA where the SARS are watching his every move, and with him having to come up with some serious money for his cheating Concert takeover, I can hardly wait to see where it will be coming from....if he does come up with it, rest assured it will not be his own and it will not be him paying the interest on any loans...the man is sine died from any and every financial institute and if we are not careful here, we will have no one willing to cover our credits for using financial services for direct debits, credit cards and salaries....the financial houses can not be seen to be in cahoots with a convicted fraudster.

    I share some others beliefs and have been warning people for years about this man, yes many still believe he will make us great again, just as big a myth as Sturgeon spouts about how fantastic it would all be in an indy Scotland....Sturgeon and King, two cheeks of the same arse and both full of false promises and hope....can so many be so gullible, wow ...it appears so...

    GSTQ

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  8. If the Articles in the ET are correct, Mr King appears to be stating he is happy and it is his preference to get others to provide more interest free loans (himself included), two strange points , how is he managing to get the money from SA , well just like his £30, £18 or £12M promised last year, during this year or next season, it wont be from him or in his name and secondly, Mr Ashley was happy to provide loans and was upfront with both the funds and the deals, but he in reality was derided for telling the truth whereas Mr King is praised for spinning stories that border on fantasy!! J

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  9. Are you deluded?? Ashley was upfront and honest?? The man only loaned us money that was rightfully ours had we had a decent deal in place for merchandise. He's been pocketing off us from day 1 but king pays back a loan that we shouldn't have had to pay back and your complaining?

    I am not kings biggest fan by any means but the guy deserves some credit for what he has done. Yeah we can shout about what's going on in SA but hes only doing what near enough every buisness in SA does any way, look at the history of fraud in the country.. they may as well have a sign saying free money here.

    In terms of this profit being a loss and king trying to cover it up with his statement, if any of you read the article properly you will see that operating costs are up by 4 million this season, therefore showing profit has been made as we have posted a lesser pre tax loss than 6 months ago, So while there is a loss we are now running the club at a higher operating cost while still bringing the balance down.

    I for one am happy with where we are at as club after everything, would I like king to be more open? Yes who wouldn't but let's give the man the time he deserves after everything he HAS done for the club.

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  10. Hey Broxi, so it is okay to lie, that is fine, it is okay to say you have made a profit when even you confirm it is a loss, again fine, as for Ashley, what did he hide, I am not saying it was a good deal, but deal we did and Ashley was upfront with it. Look I want us to be back winning the league, enjoying European nights but I think you are deluded if you believe everything that comes from the mouth of Mr King, he but that is okay because everyone in S DOES IT! J

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  11. J

    The deal between RIFC and MASH was loaded towards MASH, but and this is the bit people seem to forget here, we were in no position to barter for a better deal, not at the time, as we climbed up the leagues we got more leverage and could have brokered and negotiated a better deal.

    But King didn't like the fact that a deal was struck that he couldn't get his grubby mitts into, we had a deal and funding in place with MASH and a deal with Puma through SD, so whatever way it went....the Rangers brand and badge was going to be promoted and the brand grown....yes loaded more towards those taking the risks...MASH\SD for the funding and distribution and Puma for the kit....both parties working the deal at risk, which is why the major share of profits sat with them. As I said, this deal could have been improved upon once we were stronger and we could get round the table....but when you alienate and inflame things with the stories and lies perpetrating then it was only ever going to end in one winner...and despite all the bluster it was never going to be Rangers....not with King driving it.

    So what we have now is, a deal in place that we can not discuss and improve on, thanks to King. A deal that will run its course and Puma/SD will get what they are due whether the shirts sell or not, and then we have Rangers...who's name and brand have almost been destroyed. Thanks to King and his antics we hardly see anyone outside a match day displaying any Rangers kit...no kids playing with it and nowhere to be seen In any of the Sports outlets...again thanks to King.

    Businessmen and business enter into deals and partnerships all the time and they further and promote each other to maximise the benefits, unless its a deal involving King...where it either ends up in a court of law or ends up a busted flush....thanks Mr King, we have so much to thank you for....

    GSTQ

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