rbr 1,256 Posted January 7, 2011 Share Posted January 7, 2011 I had a wee look on a system called Fame, via Bureau Van Dijk that I use at work, and, the figures are interesting to say the least.... All from June 2010 Turnover - �£56,287,000, last year - �£39,704,000 Profit - �£4,209,000, last year - -�£14,085,000 These are big upturns Interest paid to bank - �£1,260,000 Wages and salaries - �£23,667,000 Total Assets less Cur. Liabilities - �£108,704,000 Now, as you are saying about the overdraft, this comes under current liabilities... Trade Creditors - �£2,231,000 Bank Overdrafts - �£4,695,000 Short Term Loans - �£5,554,000 Long Term Liabilities Long Term Debt - �£21,868,000 Other Long Term Loans - �£18,000,000 So, the "overdraft" portion of our debt is around �£10 million in total. That is not bad, certainly not when you compare everything else. The fact everything else is long term, means, in a sense, that its agreed, much like a mortgage, and, will reduce in time, and, should not affect things at all. Now, here is the REALLY interesting bit. Our solvency ratio. For those who dont know, heres a wee overview... "One of many ratios used to measure a company's ability to meet long-term obligations. The solvency ratio measures the size of a company's after-tax income, excluding non-cash depreciation expenses, as compared to the firm's total debt obligations. It provides a measurement of how likely a company will be to continue meeting its debt obligations Acceptable solvency ratios will vary from industry to industry, but as a general rule of thumb, a solvency ratio of greater than 20% is considered financially healthy. Generally speaking, the lower a company's solvency ratio, the greater the probability that the company will default on its debt obligations." So, over 20 is good? Rangers current ratio is.... 51.93 How about our credit score? By the way, 0 is high risk up to 100, which is pretty much no risk. well... again... Current Qui score? 94 Secure Last years? 91 Secure QuiRating? - 674,850 How about HISTORICAL CREDIT SCORE (reading left to right, going back to 2007) QuiScore 94 91 94 90 Comment Secure Secure Secure Secure QuiRating (GBP) 674,850 757,405 999,999 754,605 We are NOT "crippled by debt", we are NOT skint, we are NOT an organisation that banks would be unwilling to extend credit to, in fact, we are the type of organisation that would get credit facilities regardless. Figures dont lie. There is something going on here which is not being explained! The only people who can, are Murray and the bank! 0 Quote Link to post Share on other sites More sharing options...
JMS 0 Posted January 7, 2011 Share Posted January 7, 2011 There always will be something unexplained where murray is concerned. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted January 7, 2011 Share Posted January 7, 2011 Interesting stuff there from Outlaw!! David Leggat has some interesting views on what might be going on. His article from September - 'Archibald Gerard Kane, Lloyds and Rangers' is food for thought. Kane is executive director on the Lloyds Board, responsible for Scotland. David Leggat's written other articles on the subject of Lloyds' strangulation of Rangers and repeatedly mentions two notable things:- 1) Over 40% of Lloyds is owned by the British taxpayers. 2) The Rebublic of Ireland are in debt to Lloyds to the tune of about �£27 BILLION. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,627 Posted January 7, 2011 Share Posted January 7, 2011 What will Rangers position be without CL next season....and the season after that...and the season after that? The ratios are all being done at the time of year when our financial position is the best. We were in the position around 2 years ago of being unable to stay within our banking facility and ended up being dependent on qualifying for the CL in the following season. The management of the club were shown to be unable to mainatain the debt levels of the club at reasonable levels on more than one occasion. I fail to see why we are suddenly the type of organisation that would get credit facilites "regardless". We are not a typical business and are not one that can be simplified into a few ratios, which do not take account of management, timings of cashflows, reliance on CL income, capex requirements and existing credit facilities. The fact that we were rated as secure over the last 4 years tells you all you need to know about how applicable it is to Rangers. 0 Quote Link to post Share on other sites More sharing options...
plgsarmy 111 Posted January 7, 2011 Share Posted January 7, 2011 What will Rangers position be without CL next season....and the season after that...and the season after that? The ratios are all being done at the time of year when our financial position is the best. We were in the position around 2 years ago of being unable to stay within our banking facility and ended up being dependent on qualifying for the CL in the following season. The management of the club were shown to be unable to mainatain the debt levels of the club at reasonable levels on more than one occasion. I fail to see why we are suddenly the type of organisation that would get credit facilites "regardless". We are not a typical business and are not one that can be simplified into a few ratios, which do not take account of management, timings of cashflows, reliance on CL income, capex requirements and existing credit facilities. The fact that we were rated as secure over the last 4 years tells you all you need to know about how applicable it is to Rangers. Exactly. Also people need to realise that we will not be treated as a separate company as far as LBG is concerned. They pumped in something like �£150m into MIH earlier this year and now own about 25% of the company. MIH, in turn owns 57% of Rangers shares. 0 Quote Link to post Share on other sites More sharing options...
Super_Ally 0 Posted January 7, 2011 Share Posted January 7, 2011 Thanks for the educated analysis BD. 0 Quote Link to post Share on other sites More sharing options...
aweebluesoandso 290 Posted January 7, 2011 Share Posted January 7, 2011 Why can't we borrow �£20mil from another more sympathetic bank, if our credit rating is good. Pay of our existing loan to Lloyd's, therefore removing those leaches of Rangers back??? 0 Quote Link to post Share on other sites More sharing options...
rbr 1,256 Posted January 8, 2011 Author Share Posted January 8, 2011 Exactly. Also people need to realise that we will not be treated as a separate company as far as LBG is concerned. They pumped in something like �£150m into MIH earlier this year and now own about 25% of the company. MIH, in turn owns 57% of Rangers shares. welcome back 0 Quote Link to post Share on other sites More sharing options...
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