RIFC Annual Results

[BEARGER 1,829]

RANGERS International Football Club plc today published its Annual Report for the year ending 30 June 2019.

Key advancements during the financial year:

 

- Turnover increased by £20.6m (63%)
- Share issues in the financial year totalling £18.2m, raising £1.6m of cash, converting £16.6m of investor loans to equity, with a further £17.2m converted since the year end. This marks a huge improvement in the Group’s balance sheet and shows the commitment of its Board and investors to the Group’s financial strength.
- Continued investment in the playing squad – additions over last three years > £30m.
- Continued investment in the Stadium, Hummel Training Centre and infrastructure.
- European participation revenue £14.3m
- Non-ticket or European revenues (commercial, sponsorship, broadcasting) increased by 64%
- Record number of Season Ticket sales.
- Our community programmes continue to flourish
- Rangers Charity Foundation continues to excel.
- The Club’s massive support continues to unite under the Club 1872 banner.

 

Key Figures:

- Turnover £53.2m (2018 – £32.6m)
- Earnings before Interest Tax and Depreciation (EBITDA) (£2.9m) (2018 – (£4.2m)
- Loss for the year £11.3m (2018 – £14.3m)
- Operating expenses £58.2m (2018 – £38.9m)
- Average SPFL Home Attendance 49,563 (2018 – 49,173)
- Season Tickets 45,500 (2018 – 44,658)

 

https://rangers.co.uk/news/headlines/rangers-international-football-club-annual-results-5/

[the gunslinger 3,366]

Some amount of cash put in by king etc

[RANGERRAB 3,293]

4 hours ago, the gunslinger said:

Some amount of cash put in by king etc

Yes but that cannot be expected to continue long term.

 

The reality is since the new board arrived in 2015 we have had two failed managerial appointments which continue to cost us.

 

However we have turned a corner & things are improving. And theDoF role is crucial.

 

At least we now have players with saleable value whom we can sell to offset losses. We will lose Morelos & others for fees well in excess to what we paid. How they’re replaced is where the DoF kicks in.

 

The harsh reality is that for as long as Rangers are in the SPFL we’ll need to operate the model operated by the likes of Ajax and dare I say the yahoos. Buy low sell high.

 

As I said earlier we’ve turned a corner albeit belatedly. But now the road ahead looks much brighter.

Edited November 1, 2019 by RANGERRAB

[MacK1950 2,245]

As they say the light at the end of the tunnel is no longer an oncoming train long may it continue.

[ian1964 10,444]

 

[compo 6,214]

20 minutes ago, ian1964 said:

 

£3.6 million on legal fees in the Sports Direct  fiasco we should sack the legal team and employ the ones that got liverpool out of their kit contract ,. 

[JohnMc 2,483]

Have to say I expected there to be more chat about this thread. While I accept the board have the club's best interests at heart and are very different from past boards an £11 million pound loss is somewhat worrying. Without wishing to sound morbid what happens to Rangers if something happens to Dave King? King is in his mid 60s, that's not 'old' by today's standards, but it's not young either. 

I'm grateful for the money the directors have put in and continue to invest, but that's surely not sustainable for much longer. I'd like to know what the plan is for the short to medium term though. I assume it's 'sell players', which is fair enough but has proved harder than it sounds so far. I'd be very concerned if our plan for profitability is based on qualifying for the Champion's League. 

I'd also be interested to hear the current board's exit plan. What's the long term plan for the club? An open share issue? Private sale of shares to other high-wealth individuals? New investors? 

While we're all enjoying having a high profile manager again and playing some decent football while challenging properly for honours I'm nervous about what's next. What happens if we don't win the league this season, do we twist and gamble again next year or sell our best player(s) and balance the books? We all want to stop Celtic winning 10 in a row, but we also want a club for the long term.  

[Frankie 8,182]

1 hour ago, JohnMc said:

Have to say I expected there to be more chat about this thread. While I accept the board have the club's best interests at heart and are very different from past boards an £11 million pound loss is somewhat worrying. Without wishing to sound morbid what happens to Rangers if something happens to Dave King? King is in his mid 60s, that's not 'old' by today's standards, but it's not young either. 

I'm grateful for the money the directors have put in and continue to invest, but that's surely not sustainable for much longer. I'd like to know what the plan is for the short to medium term though. I assume it's 'sell players', which is fair enough but has proved harder than it sounds so far. I'd be very concerned if our plan for profitability is based on qualifying for the Champion's League. 

I'd also be interested to hear the current board's exit plan. What's the long term plan for the club? An open share issue? Private sale of shares to other high-wealth individuals? New investors? 

While we're all enjoying having a high profile manager again and playing some decent football while challenging properly for honours I'm nervous about what's next. What happens if we don't win the league this season, do we twist and gamble again next year or sell our best player(s) and balance the books? We all want to stop Celtic winning 10 in a row, but we also want a club for the long term.  

All very fair questions and I'm hoping @Bluedell is going to have an article this week asking similar with some possible solutions as well.

 

We certainly need further investment and I suspect that will come as part of an open offer and the timing of that may well be dependent on achieving success.

[ChelseaBoy 2,251]

What's causing the jump in operating expenses of nearly £20m, is it just player acquisitions or are there any legacy payments still being made?

 

[Bluedell 5,354]

21 minutes ago, ChelseaBoy said:

What's causing the jump in operating expenses of nearly £20m, is it just player acquisitions or are there any legacy payments still being made?

 

Staff costs (wages etc) went up £10m. Part of the rest were the costs of playing an additional 9 home games, additional European travel and preseason training.