StublueKPL 524 Posted March 27, 2014 Share Posted March 27, 2014 Just got this RNS on my share site:RNS Number : 2974DRangers Int. Football Club PLC27 March 2014?27 March 2014Embargoed for 07:00Rangers International Football Club plc("Rangers", or the "Company")Interim ResultsRangers International Football Club plc (AIM:RFC), the holding company for the 'Rangers Football Club Limited ("Club")', is pleased to announce interim results for the six month period to 31 December 2013. Highlights· Season ticket sales of approximately 36,000 for the 2013/14 season · Average home league attendance of over 40,000 during the period; seventh highest ranking UK football attendance · Revenue of £13.2m up by 38% (£9.5m for the 7 months ended 31 December 2012)o strong increase in sales from Sports Direct Retail partnership· Operating expenses of £16.8m (£16.6m for the 7 months ended 31 December 2012)· Reduced loss before tax, excluding non-recurring items of £3.5m (£7.2m for the 7 months ended 31 December 2012)· Cash of £3.5m as at 31 December 2013 (£21.2m at 31 December 2012)Post period highlights· Winners of the Scottish Professional Football League One for Season 2013/14· Ramsdens Cup finalists and currently semi-finalists of the William Hill Scottish Cup· Comprehensive business review due to be completed by end of AprilGraham Wallace, CEO of Rangers, commented "I am encouraged with the improved trading performance for the period under review which shows growth over the prior year. However we continue to deal with the impact of the previous short-term focus on managing the business, in particular the management of cash and resulting cash outflows since the IPO. We have recently addressed the short term working capital requirements of the Club and will continue to address the longer term financing needs as part of the wider review of the business. There remain many legacy issues that require resolution and many challenges ahead, however I am pleased to report that we are making good progress in repositioning the Club and business to be capable once again of challenging at the top levels of domestic and European competition. With the continued support from Rangers shareholders and supporters together with a strong sustainable business plan, we are putting in place the foundations for a period of long term success and financial stability." Quote Link to post Share on other sites More sharing options...
elephants stoned 2,994 Posted March 27, 2014 Share Posted March 27, 2014 Good news then Quote Link to post Share on other sites More sharing options...
eskbankloyal 19,446 Posted March 27, 2014 Share Posted March 27, 2014 Fairly positive news. £4.5m from Sports Direct a massive surprise.Costs still at the same level. Quote Link to post Share on other sites More sharing options...
bluenose1975 1,287 Posted March 27, 2014 Share Posted March 27, 2014 In before the doom mongrels come crawling oot the woodwork. Quote Link to post Share on other sites More sharing options...
72barca 1,788 Posted March 27, 2014 Share Posted March 27, 2014 Better than I expected. Onwards and upwards. Quote Link to post Share on other sites More sharing options...
themoodybloo 77 Posted March 27, 2014 Share Posted March 27, 2014 Not as bad as first though and seems on the right track. FF was on meltdown last night and posters there were predicting another £12 mil loss. Dearie me. Quote Link to post Share on other sites More sharing options...
Fox 50 Posted March 27, 2014 Share Posted March 27, 2014 I'm pleasantly surprised at that. Shows that we are heading on the right track. All we need now is to see Wallace's review and see what the plans are!!WATP Quote Link to post Share on other sites More sharing options...
Poetry_In_Blue 1,043 Posted March 27, 2014 Share Posted March 27, 2014 Can't wait to see what the Twist and Shout merchants both within our own fanbase and the press start to say. Quote Link to post Share on other sites More sharing options...
j1mgg 3,766 Posted March 27, 2014 Share Posted March 27, 2014 What is the loss/profit for the 6months? Quote Link to post Share on other sites More sharing options...
elephants stoned 2,994 Posted March 27, 2014 Share Posted March 27, 2014 What is the loss/profit for the 6months?3.5million excluding tax, halved from last year. Quote Link to post Share on other sites More sharing options...
Johnny Hubbard 280 Posted March 27, 2014 Share Posted March 27, 2014 What is the loss/profit for the 6months? Reduced loss before tax, excluding non-recurring items of £3.5m doesn't say what the non recurring items are or how much they are Quote Link to post Share on other sites More sharing options...
Poetry_In_Blue 1,043 Posted March 27, 2014 Share Posted March 27, 2014 What is the loss/profit for the 6months? Reduced loss before tax, excluding non-recurring items of £3.5m doesn't say what the non recurring items are or how much they areProbably the pay-offs etc to previous personnel at the club I would think more likely. Quote Link to post Share on other sites More sharing options...
theiconicman 3,130 Posted March 27, 2014 Share Posted March 27, 2014 3.5m is higher than I was predicting and higher than I'd like to see it.I really thought we could hold the full year loss to around 4 or 5 million but even with a front loaded boost from Sports Direct, we've still posted a bigger loss.Let's see what April brings. Quote Link to post Share on other sites More sharing options...
Johnny Hubbard 280 Posted March 27, 2014 Share Posted March 27, 2014 Probably the pay-offs etc to previous personnel at the club I would think more likely.I've just seen a fuller account in the financial and board section that explains things further Quote Link to post Share on other sites More sharing options...
five stars 1,767 Posted March 27, 2014 Share Posted March 27, 2014 This is not good news! Remember this loss covers only six months. Quote Link to post Share on other sites More sharing options...
Poetry_In_Blue 1,043 Posted March 27, 2014 Share Posted March 27, 2014 I've just seen a fuller account in the financial and board section that explains things furtherYeah, just saw it myself, and I see the doom and gloom has started. Five Stars even though not ideal it is a lot better than what people without any knowledge were trying to have us believe, it was also suitable enough for DK to go back to SA and distance himself from some groups. Quote Link to post Share on other sites More sharing options...
Carsons Dog 9,878 Posted March 27, 2014 Share Posted March 27, 2014 This is traditionally a day for the lurking Bheasts to come out if hiding Quote Link to post Share on other sites More sharing options...
scarkev 3,540 Posted March 27, 2014 Share Posted March 27, 2014 The biggest surprise for me is the Retail figure which is superb. A £3.8m increase on last year is an excellent result. Rest of the income is in line with what i thought and said yesterday.Expenses are still a concern though. I had really hoped we would have saw at least a £1.5m drop in expenses though as i stated yesterday, im confident that the last 6 months of this season will be better than the last 6 months of last season on the expenses front.For me, this is the main negative the nay-sayers can find in the accounts though it would be incredibly short-sighted as well as a little hypocritical. Wallace is going to get it right. Im more positive again on that front. I think if you take into account that Wallace had very little impact on these particular results it actually makes me more positive for the next reporting period where he can make changes. There are a lot of positive things in there from the retail income via sports direct, to the implementation of a structured scouting/youth set up and those who harp on about it constantly now know how much the blackthorn deal is worth. No doubt in the next few hours we will have hysteria and negativity thrown at us but hopefully the vast majority are starting to see more light than dark now. Quote Link to post Share on other sites More sharing options...
Allanger 625 Posted March 27, 2014 Share Posted March 27, 2014 Not too bad.In honesty I expected worse. We still have a good bit to go to turn us around but I am happy with any small steps in the right direction. Quote Link to post Share on other sites More sharing options...
Dunny_01 2,007 Posted March 27, 2014 Share Posted March 27, 2014 results defo goin in right direction, I think Graham Wallace will deliver by end of April and we Will have our faith restored inside the brox Quote Link to post Share on other sites More sharing options...
bump 168 Posted March 27, 2014 Share Posted March 27, 2014 the team are pointing in the right direction and now the board also,looking forward to what comes out of the wallace review Quote Link to post Share on other sites More sharing options...
Creampuff 22,630 Posted March 27, 2014 Share Posted March 27, 2014 Not wonderful results, but I was expecting far worse.Miles off the £1m a month losses we were having thrown at us earlier. Quote Link to post Share on other sites More sharing options...
Calgacus 88 Posted March 27, 2014 Share Posted March 27, 2014 we have an operating loss of £3,500, 000 in just 6 months...how is that good news? Quote Link to post Share on other sites More sharing options...
West_Side 1,571 Posted March 27, 2014 Share Posted March 27, 2014 we have an operating loss of £3,500, 000 in just 6 months...how is that good news?The results are certainly encouraging compared to last years though. It's a step in the right direction. To be honest though I think we will likely be making a loss until we get back into the top division. Quote Link to post Share on other sites More sharing options...
loyalfollower 1,543 Posted March 27, 2014 Share Posted March 27, 2014 we have an operating loss of £3,500, 000 in just 6 months...how is that good news? you cant go from a 14 million pound loss to a profit unless an arab comes in.The results are an improvement on last year and hopefully it means that we have slashed costs by half. I doubt if theres any new companies that make profit within the 1st 3 years of trading. If we're still losing in year 3-4 then we'd need a board review but so far so good as far as im concerned Quote Link to post Share on other sites More sharing options...
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