Rangers Then, Sevco Now, Scotland's Shame Forever....

[Stupie82]

BBC

Rangers International Football Club has posted a profit of £300,000 in its unaudited financial results for the six months to 31 December 2016.

This compares favourably to a loss of £500,000 in the same period in 2015.

Revenue increased by £5.3m year on year to reach £16.3m thanks to bigger attendances, greater income from playing top-tier football and greater sponsorship and commercial income.


However, operating expenses rose too, by £4.1m to £15.5m.

[kb_don]

BBC

Rangers International Football Club has posted a profit of £300,000 in its unaudited financial results for the six months to 31 December 2016.

This compares favourably to a loss of £500,000 in the same period in 2015.

Revenue increased by £5.3m year on year to reach £16.3m thanks to bigger attendances, greater income from playing top-tier football and greater sponsorship and commercial income.


However, operating expenses rose too, by £4.1m to £15.5m.

I suspect that's a bit of lamb, to justify them getting a europa cup place next season. They don't meet the FFP criteria, but the SFA will use any excuse they can to get them in

[canarydon]

I suspect that's a bit of lamb, to justify them getting a europa cup place next season. They don't meet the FFP criteria, but the SFA will use any excuse they can to get them in

There's also the small matter of the £2.9m loans received from directors in October to keep the club afloat.

[Jupiter]

The key word there is unaudited. Can they not afford to pay auditors?

[Pacman1903]

The key word there is unaudited. Can they not afford to pay auditors?

Or they just dinna want their books audited

[Gogsred]

Aye but what does the balance sheet show I wonder ?

[neilthedon]

Aye but what does the balance sheet show I wonder ?

Balance ........sheet ? I doubt it balances. Will be hard to read all that scribbling in crayons anyway.

[kkong]

Aye but what does the balance sheet show I wonder ?

There is no balance sheet.

And they lost money, there was no profit.

The most lightweight "accounts" I've seen for a while.

There is virtually no content or explanatory notes.

https://media.rangers.co.uk/uploads/...rimDec16-1.pdf

[Getintaethem]

There is no balance sheet.

And they lost money, there was no profit.

The most lightweight "accounts" I've seen for a while.

There is virtually no content or explanatory notes.

https://media.rangers.co.uk/uploads/...rimDec16-1.pdf

I think you are being a little critical with your analysis. They did stream a shareholders meeting when they went into the details.

https://www.youtube.com/watch?v=u6_HLqQlre4

[Stavrogin]

There is no balance sheet.

And they lost money, there was no profit.

The most lightweight "accounts" I've seen for a while.

There is virtually no content or explanatory notes.

https://media.rangers.co.uk/uploads/...rimDec16-1.pdf

Lightweight? The lack of detail should embarrass the junior accounts assistant that must have put them together. 451 grand of 'Other charges' with no explanation. Probably how much they have to pay Mike Ashley to stock their ghastly kit.
What really confuses me is that they report a tax rebate in each of the last two years. Surely you have to have actually paid some taxes in the first place to get a rebate?