David1872 21 Posted February 17, 2010 Share Posted February 17, 2010 RANGERS have announced unaudited interim results for the six months to 31 December 2009 and chairman Alastair Johnston has released the following statement:I HAVE pleasure in presenting the Interim Results for the six months to 31 December 2009, a period that saw the Chairmanship of the Club pass to myself in August 2009.The ensuing six months of my tenure saw us perform in Europe's elite club competition and reap the financial benefit of so doing in achieving turnover of £37.8m and an operating profit of £13.1m, an increase of £22.0m on the prior year.These however have been challenging times within the Club, and credit must go to Martin Bain and Walter Smith and their respective teams in maintaining performance, standards and above all the intrinsic value of the Club over this period.Whilst our results in the UEFA Champions League were disappointing, we currently sit proudly at the top of the Clydesdale Bank Premier League, and have progressed to the final of The Co-operative Insurance Cup and the fifth round of the Active Nation Scottish Cup.This has been achieved with a first team squad that has been stretched through injury and suspension, which has in itself created opportunities for the younger members of the squad.Whilst the recent transfer window saw the departure of Pedro Mendes and Jerome Rothen, it was pleasing to retain our more valued assets in the run in for the league title.http://www.rangers.co.uk/articles/20100217/rangers-announce-interim-results_2254024_1968734 Link to post Share on other sites More sharing options...
GeneralCartmanLee 313 Posted February 17, 2010 Share Posted February 17, 2010 RANGERS have announced unaudited interim results for the six months to 31 December 2009 and chairman Alastair Johnston has released the following statement:I HAVE pleasure in presenting the Interim Results for the six months to 31 December 2009, a period that saw the Chairmanship of the Club pass to myself in August 2009.The ensuing six months of my tenure saw us perform in Europe's elite club competition and reap the financial benefit of so doing in achieving turnover of £37.8m and an operating profit of £13.1m, an increase of £22.0m on the prior year.Alastair JohnstonThese however have been challenging times within the Club, and credit must go to Martin Bain and Walter Smith and their respective teams in maintaining performance, standards and above all the intrinsic value of the Club over this period.Whilst our results in the UEFA Champions League were disappointing, we currently sit proudly at the top of the Clydesdale Bank Premier League, and have progressed to the final of The Co-operative Insurance Cup and the fifth round of the Active Nation Scottish Cup.This has been achieved with a first team squad that has been stretched through injury and suspension, which has in itself created opportunities for the younger members of the squad.Whilst the recent transfer window saw the departure of Pedro Mendes and Jerome Rothen, it was pleasing to retain our more valued assets in the run in for the league title.Discussions continue on various contract extensions, although a balance has to be struck between value and player expectations.Earlier this month we were delighted to confirm the appointment of Tennent's Lager as the official Club and shirt sponsor from 2010/11. We will continue to work towards a positive climax to a highly successful and productive seven year relationship with Carling.Work also continues in developing our ground-breaking media offering through www.rangersTV.tv, enabling live broadcasts and archive The Champions League trophymaterial to be viewed on demand.Although the effect of the current economic climate had an impact on ticketing and hospitality sales as well as the income from SPL media rights, the turnover for the six months to 31 December 2009 rose by £17.7m to £37.8m on the back of Champions League participation.Due to the timing of our involvement in the Champions League, revenue is weighted in favour of the first six months of the financial year.Net operating expenses decreased by £3.6m to £21.0m reflecting the reduced salary levels and efficiencies introduced throughout the Club, and resulted in an increase in operating profit of £22.0m.Accounting for a £5.5m decrease in gains from the sale of player registrations to last year, profit before interest and tax rose by £16.5m to £13.8m.Lower interest rates and historical tax losses contributed to a retained profit of £13.1m, compared to a retained loss of £3.9m for the same period last year, an increase of £17.0m.Whilst the Interim Results are pleasing, a degree of caution is required as the future outlook is fraught with challenges.When I assumed the Chairmanship in August 2009, I realised that we had to take a short-term perspective on the business model that we needed to adopt for the financial year through to June 2010.The Board appreciated the understanding of Lloyds TSB Bank plc in supporting our initiatives to stabilise the Club without totally compromising the ability of the management team to field a competitive squad of players for the current season.We continue our efforts to source a capital injection into the Club to fuel the ambitions of the staff, supporters and shareholders, all of whom have been remarkably supportive as we navigate through the turbulence.Until such time as this is achieved, we are compelled to maintain our working relationship with Lloyds TSB Bank plc.The Board understands that reliance on such a facility going forward is not desirable if we are to retain control over the Club's destiny and avoid negatively impacting the potential for future success.However, a balanced view is required at this stage amongst operating sustainability, ambition, and the commensurate underlying value of the Club.Rangers will need continued commitment from all of those with the best interests of the Club in mind in the months ahead, and I remain totally confident that we will prevail together.CLICK HERE TO VIEW THE INTERIM RESULTS Link to post Share on other sites More sharing options...
outlaw69uk 123 Posted February 17, 2010 Share Posted February 17, 2010 So, things not as bleak looking as being made out? Link to post Share on other sites More sharing options...
Blue Stars Bearette 1 Posted February 17, 2010 Share Posted February 17, 2010 pretty goodI hope it encourages a buyer to come out of the wingspleeeeeeeeeeeeeeeease Link to post Share on other sites More sharing options...
dazzapat 83 Posted February 17, 2010 Share Posted February 17, 2010 This goes to show how important Champions League money is to both Scottish clubs and given that after this season it may be even harder for us to qualify for the Group Stages, we could have a few interesting years ahead. Link to post Share on other sites More sharing options...
Chef 436 Posted February 17, 2010 Share Posted February 17, 2010 good good, i like the end bit, stick together FOR the club Link to post Share on other sites More sharing options...
rbr 364 Posted February 17, 2010 Share Posted February 17, 2010 So can one of our super financial guys actually break down where exactly we are in relation to debt etc before hysteria breaks out Link to post Share on other sites More sharing options...
Davie2909 21 Posted February 17, 2010 Share Posted February 17, 2010 So with an operating Profit of £13mill then we should be sitting with the debt at around £20mill or so at the end of the season. Its not as bleak as the mhedia are making out Link to post Share on other sites More sharing options...
GeneralCartmanLee 313 Posted February 17, 2010 Share Posted February 17, 2010 This goes to show how important Champions League money is to both Scottish clubs and given that after this season it may be even harder for us to qualify for the Group Stages, we could have a few interesting years ahead.It cannot be understated just how important it is...... Link to post Share on other sites More sharing options...
GovanFrontGers 1 Posted February 17, 2010 Share Posted February 17, 2010 Really good news and just shows you how much the CL means to us.Another years of us wining the title and the tims will be in real shite. Link to post Share on other sites More sharing options...
GeneralCartmanLee 313 Posted February 17, 2010 Share Posted February 17, 2010 So can one of our super financial guys actually break down where exactly we are in relation to debt etc before hysteria breaks outHysteria.... Link to post Share on other sites More sharing options...
outlaw69uk 123 Posted February 17, 2010 Share Posted February 17, 2010 retained profit of £13.1mI'm guessing thats the figure we're most interested in here? So much for administration Indeed, add to that that we should do, pretty much the same in the first 6 months next season also.... Link to post Share on other sites More sharing options...
outlaw69uk 123 Posted February 17, 2010 Share Posted February 17, 2010 So can one of our super financial guys actually break down where exactly we are in relation to debt etc before hysteria breaks outHysteria.... http://www.youtube.com/watch?v=9lneyBoDq0c Link to post Share on other sites More sharing options...
Tumshie 205 Posted February 17, 2010 Share Posted February 17, 2010 Good news and hopefully we will also find out how much the debt has decreased by Link to post Share on other sites More sharing options...
RFC55 108,860 Posted February 17, 2010 Share Posted February 17, 2010 These results are fucking great and a big girfuy to the chunts who had us buried in 47 days etc. Big well done to the fans who have helped along the way and to walter and the lads. WATP ftp Link to post Share on other sites More sharing options...
Jeff crap in the head 120 Posted February 17, 2010 Share Posted February 17, 2010 Are we not in administration yet? Link to post Share on other sites More sharing options...
GeneralCartmanLee 313 Posted February 17, 2010 Share Posted February 17, 2010 Was just wondering who was hysterical. They are good results and may not fit in with other posters constant state of depression but there you go... Link to post Share on other sites More sharing options...
outlaw69uk 123 Posted February 17, 2010 Share Posted February 17, 2010 Good news and hopefully we will also find out how much the debt has decreased byCan probably work it out from that, unless some of it is going into pockets.Looking at these, my feeling that the MIH side of things is the problem seems to be born out here. We are a profitable business, nowhere NEAR administration. The problem is the rest of the murray group, not us. Not like the press to be scaremongering is it? On the plus side, just think how gutted timmy will be seeing this! skint skint skint... oh wait....no they arent, and, Champions League again Link to post Share on other sites More sharing options...
RFC55 108,860 Posted February 17, 2010 Share Posted February 17, 2010 Was just wondering who was hysterical. They are good results and may not fit in with other posters constant state of depression but there you go... GCL, by looking at the results and the business plan we have with the bank, would you say a fire sale would be the last thing that would happen in the summer? considering we look like leauge winners so the UCL will be guarenteed again? Link to post Share on other sites More sharing options...
Stu1993 101 Posted February 17, 2010 Share Posted February 17, 2010 Good news and hopefully we will also find out how much the debt has decreased byCan probably work it out from that, unless some of it is going into pockets.Looking at these, my feeling that the MIH side of things is the problem seems to be born out here. We are a profitable business, nowhere NEAR administration. The problem is the rest of the murray group, not us. Not like the press to be scaremongering is it? On the plus side, just think how gutted timmy will be seeing this! skint skint skint... oh wait....no they arent, and, Champions League again Another 10 Million plus the money from winning the treble and after they just announced they lost money this year, things are starting to turn Link to post Share on other sites More sharing options...
Blue Stars Bearette 1 Posted February 17, 2010 Share Posted February 17, 2010 Was just wondering who was hysterical. They are good results and may not fit in with other posters constant state of depression but there you go... all I saw was the gloomy 'asset stripping headlines' for the Gers in the papers today....the mhedia must have known this was coming Link to post Share on other sites More sharing options...
Carsons Dog 9,878 Posted February 17, 2010 Share Posted February 17, 2010 We need another protest quick - thats obviously what dunnit Link to post Share on other sites More sharing options...
GeneralCartmanLee 313 Posted February 17, 2010 Share Posted February 17, 2010 Consolidated Profit & Loss Account 6 Months to 6 Months to 31 December 2009 31 December 2008 Unaudited Unaudited £000 £000Turnover 37,834 20,136Net operating expenses (21,008) (24,636)--------------------------------------------------------------------------------Trading profit/(loss) 16,826 (4,500)Amortisation of player registrations (3,730) (4,380)--------------------------------------------------------------------------------Operating profit/(loss) 13,096 (8,880)Gain on disposal of player registrations 678 6,180--------------------------------------------------------------------------------Profit/(loss) before interest & tax 13,774 (2,700)Interest (677) (1,419)--------------------------------------------------------------------------------Profit/(loss) before tax 13,097 (4,119)Taxation - 203--------------------------------------------------------------------------------Retained profit/(loss) for the period 13,097 (3,916)--------------------------------------------------------------------------------Basic and diluted earnings/(loss) per share (p) 12.0 (3.6)--------------------------------------------------------------------------------Note: This financial information has not been reviewed by the company'sauditors.The directors of The Rangers Football Club plc accept responsibility for thisannouncement. Link to post Share on other sites More sharing options...
Davie2909 21 Posted February 17, 2010 Share Posted February 17, 2010 I wonder what the full results will be at the end of the financial year??? Link to post Share on other sites More sharing options...
Chef 436 Posted February 17, 2010 Share Posted February 17, 2010 surprised someone aint questioning these figures, maybe as it is straight from the horses mouths as to say, what i do like is we have done this without really moving anyone of real importance away from the squad, maybe MR MUIR aint the devil incarnate after-all eh folks.I dont think any bear will take this as an end to our worries but it does help quash some hysteria going around at the moment, where is all the doom and gloom merchants now, this to me is FACTS that we are heading in the right way in order to pay off our debts, baby steps but productive steps Link to post Share on other sites More sharing options...
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