Annual Accounts

[forlanssister 3,114]

After hearing the opinions of several financial experts over the course of the day I am comfortable with the results. The share price has remained constant which suggests the markets are comfortable with the results as well.

It is time for both sides to stop the mudslinging, the shareholders will decide the makeup of

the board on the 24th.

 

Yes the share price is maintaining it's 40 odd % drop from the IPO rather well.

[TheTinMan99 0]

Yassssssssssssssssssssssssssssssssssssssssssssssssssssssssssss

[craig 5,199]

Yassssssssssssssssssssssssssssssssssssssssssssssssssssssssssss

 

Hahaha, for a second I was like "What the hell is exciting TTM so much"... a quick detour to livescore.com and the answer is plain to see

 

What did Broonaldo get sent off for ?

[TheTinMan99 0]

Hahaha, for a second I was like "What the hell is exciting TTM so much"... a quick detour to livescore.com and the answer is plain to see

 

What did Broonaldo get sent off for ?

 

He dragged someone down, and then I think he might have stood on his back, but don't quote me on that. Thought the thread deserved some good news.

[craig 5,199]

Wouldnt be the first time in this CL campaign he did that... would it...

[TheTinMan99 0]

http://rangers.co.uk/news/headlines/item/5199-video-stockbridge-on-results

 

Chief bawbag gives his view.

[barca72 440]

Okay ... several different issues here. First, costs. The given that payroll is our biggest cost (£18 million) then how do you get costs down without reducing the number of players, reducing salaries and or layoffs? Certainly there are also operating costs; the cost of running Ibrox and Auchenhowie for example. But those are costs that are less controllable (e.g. cost of electricity).

 

Second, revenue. Very hard to increase gate revenue for this year because half of it has already been sold. So you have to look to hospitality, sponsorship, merchandise, etc. But can you increase that by £16 million?

 

I think they probably can close the gap but not by £16 million. £5 or £6 million maybe.

 

So where does the NOMAD come in? When you need to raise funds in the capital markets. Now we know from what management have said that we only have £2.5 million in borrowing available and no bank borrowing . So what happens if we run out of cash next summer? We go back to the capital markets for, say, £10 million. But the institutions like to work with a blue chip NOMAD like Cenkos. So having the wrong NOMAD will make it harder to raise cash from them. And if we cannot raise cash through a share issue then we will need to look at asset sales. And the only assets we have are players, Ibrox and Auchenhowie.

 

Or maybe management will surprise me.

 

 

Thank you for explaining that. I think that a reduction of 5-6 M pounds is reasonable, especially since they have no access to European tv money for a few seasons. The only question left to ponder is - Would a new board achieve any better?

 

p.s. The good guys won 1-0.

[bossy 0]

Thank you for explaining that. I think that a reduction of 5-6 M pounds is reasonable, especially since they have no access to European tv money for a few seasons. The only question left to ponder is - Would a new board achieve any better?

 

p.s. The good guys won 1-0.

 

The issue is not so much whether a new Board or new CEO would achieve better but whether you need a new Board to attract new investment always assuming we need it. Because if we need new cash and cannot attract the investment then we have a very big problem.

 

As to how the club is being run, I honestly don't have enough visibility. I do think we have an issue with the amount of fees, commissions and interest being paid out to 'related' parties. But my main concern is how management are handling non-football revenue streams such as merchandise. That, for me, is absolutely key because match revenue (season tickets, etc.) will never be enough to finance the kind of team we want to see on the park.

[trueblue 64 57]

If the Board are so confident of winning a vote, why are they using underhand tactics to try and prevent any one else being nominated? The share price is affected by numerous factors, not just the annual accounts.

Both sides have been guilty of using underhand tactics, and it's not the first time the rebels have been found wanting on procedural issues. Everyone knew the AGM was imminent so should have been on the ball.

If the accounts were are bad as the rebels told us the share price would have collapsed. Indeed if the rebels were to be believed the accounts would not have been signed off.

Edited October 1, 2013 by trueblue 64

[RANGERRAB 3,680]

one thing that never seems to get discussed is MP & how much it costs to run it with all these youth teams, youth coaches, all the tournaments they go to not to mention expenses incurred. If we have this type of set up it must produce players year on year who can be sold on for profit like Ajax do. As far as I can see that's not happening right now. Is it just coincidence we seemed to start making bigger losses since it opened 12 years ago?