rugbyunion
Latest News:

Finances
Margin_Walker (IP Logged)
15 April, 2018 06:03
Front page of TRP this morning.

2.95m loss for last year
Turnover down to 6.8m from 8.8m
Wage bill was 6.2m down from 7.6 in the Championship season
Cheery quote from auditors warning that "these conditions indicate a material uncertainty exists that may cast doubt on the company's ability to continue as a going concern"

In better news it does say that Crossan is apparently close to securing additional funding that will secure our immediate future.

 
Re: Finances
DrV'sHairyCraic (IP Logged)
15 April, 2018 08:36
And I read the other day that Wuss made an 8.1M loss

 
Re: Finances
jimbo800 (IP Logged)
15 April, 2018 08:49
Why is it front page?

 
Re: Finances
Margin_Walker (IP Logged)
15 April, 2018 08:55
Quote:
DrV'sHairyCraic
And I read the other day that Wuss made an 8.1M loss

Yep, although not sure if that's an exaggerated figure based on how they split their entities, with another one posting a profit. May have made that up though.

 
Re: Finances
Cornish boy (IP Logged)
15 April, 2018 12:24
Quote:
Margin_Walker
"these conditions indicate a material uncertainty exists that may cast doubt on the company's ability to continue as a going concern"

Having read the Auditors note, my interputation was that they refer to the reliance upon Powerday to provide cash flow and funding to the loss making club, without which "these conditions indicate a material uncertainty exists that may cast doubt on the company's ability to continue as a going concern"

I dont think any of us would disagree that without Mick, we would be resigned to the history books alongside London Welsh and others.

To be fair, depending on how the funding is presented, pretty much every professional rugby club could/would have a similar comment in the Auditors assessment.

 
Re: Finances
SK 88 (IP Logged)
15 April, 2018 14:34
Quote:
Margin_Walker
Front page of TRP this morning.
2.95m loss for last year
Turnover down to 6.8m from 8.8m
Wage bill was 6.2m down from 7.6 in the Championship season
Cheery quote from auditors warning that "these conditions indicate a material uncertainty exists that may cast doubt on the company's ability to continue as a going concern"

In better news it does say that Crossan is apparently close to securing additional funding that will secure our immediate future.

Surely these are the financial results from June 2017 i.e. last season when you were in the Championship?


Sorry, only registered users may post in this forum.
We record all IP addresses on the Sportnetwork message boards which may be required by the authorities in case of defamatory or abusive comment. We seek to monitor the Message Boards at regular intervals. We do not associate Sportnetwork with any of the comments and do not take responsibility for any statements or opinions expressed on the Message Boards. If you have any cause for concern over any material posted here please let us know as soon as possible by e-mailing abuse@sportnetwork.net
 
 

Who is online?

Total users online:  

Most users online:  

Users on this site:  

Where are they?