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Reply | Accounts are out
at 13:44 9 Feb 2020
If you think me capable of refraining from taking the piss about that, you see me as more saintly than I actually am  |
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Reply | Accounts are out
at 13:25 9 Feb 2020
OT -- Can't believe the shareholder legal action seemingly hasn't progressed a nanometre since I last looked in.
Incredible, Jeff. |
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Reply | Accounts are out
at 13:23 9 Feb 2020
As per accounts.
Must be Daniel James I didn't have in. |
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Reply | Accounts are out
at 13:08 9 Feb 2020
. . the figures mentioned imply a profit on player sales of north of £30 million and what I don't get is how to reach that number.
I am only getting to around a third of that total, but I must be missing some large profits on players sold during the summer or last January?? |
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Reply | Accounts are out
at 12:56 9 Feb 2020
. . .oops, nope, on second thought strike my comments on the net debt forecast, looks like I hadn't updated that in my model |
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Reply | Accounts are out
at 12:47 9 Feb 2020
You think the financial position is better than you expected? Unfortunately that's because you don't have a fcuking clue what you're talking about.
But you are quite clearly not alone in that situation, so my thoughts are as follows:
The sparse comments imply an operating loss of £34.7 million versus my old expectation of a loss of £31m. However, that used a slightly larger player ammortation figure, so adjusting for that the results are largely in line with my - infinitely superior - expectations.
But the far more interesting aspect of what is going on involves the balance sheet. I have forecast net debt of around £50 million, and if you assume McBurnie's fee is paid in full you get to £32m.
Haven't been paying attention to player movements, but it doesn't look like there has been much investment which is clearly not sustainable so there must be material outflows to come.
Time is growing short to secure promotion and with the - in my view - greatest asset Potter gone, the financial position remains seriously risky. |
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