Bluedell 14 Posted February 29, 2008 Share Posted February 29, 2008 I don't want to have a go at you Bluedell but your post is very sepculative and lots of it is based on assumptions. For example, the club may have made losses in the 6 months to 31 June in prior years but that has little bearing on the performance of the club in the 6 months to 31 June 2008. If the club continue to be a success on the park then our results for the 6 months to 31 June 2008 could be very good. Nobody has access to that kind of information so we can't possible comment and if you do have access to that kind of information you shouldn't comment. I don't think that you can state that "extended run in the UEFA Cup may be negated by the increased costs" without stating what the increased costs are. Do you mean the increased costs of being in the UEFA Cup or the increased costs that you have assumed that the club will incurr in the period to 31 June 2008? I am in no position to comment but I would think that an extended run in the UEFA Cup will be financially beneficial for the club overall. I do agree that being in the CL every year is an absolute must for the club and SDM has said as much. I don't know if we also have to become a selling club to make a profit but it will be difficult for the club to reject big offers for players that will result in a large profit for the club. The club like any business will need to find a balance between its income and its expenditure and the better the club performs on the pitch the better or income will be which in turn will let the club spend more money on the team. Yes, it's based on assumptions but informed ones. I don't have access to the information. My analysis is purely using publicly available information. Trends can be seen and there is no reason to tink that the 6 moths to 30/6/08 will be that different to previous years, excluding the transfers obviously. The increased costs are the costs in the P&L account which have gone up by over £6m on the prior year. These are the costs of wages and the write off of players' values. A UEFA cup run is certainly beneficial but I don't think that it will bring in an excess of £6m. Link to post Share on other sites More sharing options...
Bluedell 14 Posted February 29, 2008 Share Posted February 29, 2008 What I think we can all agree on is they are a sight better than they have been for the last few years - and much better than when we were sitting with £70M of debt - and that was a real threat (ask leeds fans) - so improvement all round (and about time) No doubt about it - although it was £83million of debt IIRC.... What interests me (and we won't know until the full accounts are released) is if the SDM £15million revolving credit facility has (or has not) be used and to what extent. It will be getting used at the moment but the Hutton deal will have reduced its need as will the season ticket cash when it comes in. It will difficult to tell hiow much oof it will have been used at its maximum. Link to post Share on other sites More sharing options...
Bluedell 14 Posted February 29, 2008 Share Posted February 29, 2008 Looking at the Half yearly Report the only thing that stands out is, "Walter said there was money to spend in Jan" And unless SDM was Writing Blank cheques it looks like there wasn't Money to spend! As i said Hutton had to be sold to make up for CL Murray effectively wrote blank cheques last summer, and the CL qualification and Hutton has got him out of jail. Link to post Share on other sites More sharing options...
Frankie 505 Posted February 29, 2008 Author Share Posted February 29, 2008 Thanks for clarifying everything Bluedell... Link to post Share on other sites More sharing options...
Bluedell 14 Posted February 29, 2008 Share Posted February 29, 2008 Thanks for clarifying everything Bluedell... I hadn't realised you'd posted it here or else I would have been on earlier. Just as well as I now know what Manticore really thinks of me. Link to post Share on other sites More sharing options...
ricardopatrese 0 Posted February 29, 2008 Share Posted February 29, 2008 What a load of meaningless crap has been posted on here. Any Accountants amongst any of you? Too many concerned with turnover and not profit or gearing. SDM, assuming he is still thinking if selling, will only be concerned with profit and gearing-ratios. 6 month balance sheets mean fuck all and are served only as a placatable source for shareholders if the results are right. Banks don't really give two hoots about them for obvious reasons. (think of a football season's length for an obvious one). Frankie's original post, whilst well intentioned, was pointless as it adds and means nothing to the overall value of RFC. Balance sheets are what point to the true value of a business - not a dodgy, 6 month P&L projection. Link to post Share on other sites More sharing options...
*Manticore* 1,893 Posted February 29, 2008 Share Posted February 29, 2008 Just as well as I now know what Manticore really thinks of me. :beer2: :bouncy: :harhar: :kiss1: Link to post Share on other sites More sharing options...
Frankie 505 Posted February 29, 2008 Author Share Posted February 29, 2008 Nobody suggested it was anything to be taken overly serious RP. It was just a quick and simple analysis of our current position based on experience and past results. Bluedell is a well-qualified accountant so I'm sure he's more than aware of what and what isn't worthy of debate with regard to these figures and the overall balance sheet. That made the thread interesting and I certainly learned a few things from it - as did a few others I'm sure. But well done on adding to the meaningless crap section of the thread... Link to post Share on other sites More sharing options...
Bluedell 14 Posted March 1, 2008 Share Posted March 1, 2008 What a load of meaningless crap has been posted on here. Any Accountants amongst any of you? Too many concerned with turnover and not profit or gearing. SDM, assuming he is still thinking if selling, will only be concerned with profit and gearing-ratios. 6 month balance sheets mean fuck all and are served only as a placatable source for shareholders if the results are right. Banks don't really give two hoots about them for obvious reasons. (think of a football season's length for an obvious one). Frankie's original post, whilst well intentioned, was pointless as it adds and means nothing to the overall value of RFC. Balance sheets are what point to the true value of a business - not a dodgy, 6 month P&L projection. The title of the post was "review of Rangers' half year accounts" and not "here is the value of Rangers". Perhaps if you had read and understood that, your post, whilst well intentioned, may have actually contributed something meaningful. You say that Murray will only be concerned with profit and that was what much of the original post was about. "6 month balance sheet" - err, there wasn't one. What would talk of gearing ratios mean to a vast majority of the readers of this thread anyway unless to try and impress them that you know terms that they don't understand? "Know your audience" and all that..... I'm also interested by your view that a company's value is only dictated by its balance sheet and not its profit. A novel way of looking at things. Link to post Share on other sites More sharing options...
easterhooserangers 8 Posted March 2, 2008 Share Posted March 2, 2008 OWNED Link to post Share on other sites More sharing options...
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