Financial results out


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Interesting that we're still paying for Welbeck and the other loan deals.

They seem promising, but it's clear that we need a better sponsorship deal.
 
"The overall loss for the financial year ending July 31st 2011 was reduced by 72% to £7.8m - £20.1m less than the previous year's figure of £27.9m.

The club's operating expenses, which include areas such as staff/player wages, match costs and utilities rose to £110.7m, which resulted in a net operating loss of £31.2m."

Someone explain how it reckons we lost £7.8m, but then the next par down says we lost £31.2m?
 
Those headline figures look much healthier than the last time around, but as always with accounts it's very hard to tell if you're not looking at them properly, they're too easy to manipulate if you know what you're doing.
 
"The overall loss for the financial year ending July 31st 2011 was reduced by 72% to £7.8m - £20.1m less than the previous year's figure of £27.9m.

The club's operating expenses, which include areas such as staff/player wages, match costs and utilities rose to £110.7m, which resulted in a net operating loss of £31.2m."

Someone explain how it reckons we lost £7.8m, but then the next par down says we lost £31.2m?
Operating loss will be turnover less operating expenses (Staff Costs, amortisation and impairment of players contracts, plus other operating expenses).

Guessing the difference will be profit on disposal of players contracts.

Since I'm a sad fucker I can't see the accounts on the company house website yet
 
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