Re: £600K loss last year! : Wed Sep 20, 2017 5:14 pm  

Does anyone have the profit and loss year on year since Lenagan took over?

Haven't we had a mixed bag of profits and losses over the past 10 years? And with a better projected result for 2017 this would continue that trend.

I'd guess this is probably not the case for many sports clubs who consistently make losses year on year.

IL has stated on many occasions that he wants the club to "wipe it's own face".

I see the trolls are out on social media loving the £600k loss but they probably didn't bat an eyelid in the years we made profits.

Re: £600K loss last year! : Wed Sep 20, 2017 6:14 pm  

The really alarming thing is that this loss was posted during your super league winning season! It's evident that without IL you wouldn't be in business but this is no different to a lot of clubs. DaveO, if you look at the parent company accounts, the loan made to Wigan rugby club has come from IL personally as it has increased by the same amount as his directors loan in there. Lenagan investments owes IL 5.9m. Money he's never going to see again!

Regards

King James

Re: £600K loss last year! : Wed Sep 20, 2017 6:41 pm  

Does the club get any return on Stadium sales of food and drink on match days, or does the Stadium company bank the lot?

Re: £600K loss last year! : Wed Sep 20, 2017 9:58 pm  

Lebron James wrote:

It's evident that without IL you wouldn't be in business

Not necessarily, it just means that the club would be looking at a different business model where it has to cut its cloth instead of knowing it can make a loss which will be covered.

Re: £600K loss last year! : Wed Sep 20, 2017 10:52 pm  

If you could get back to playing good rugby (coach ?) I'm sure the fans you've lost, (even following last years GF win) would come back.
But will they come back to see sterile Rugby ?
Even for big games support is down especially when you have to travel, I think fans are just a bit demoralised with what's been turned out, versus what your used to ??

It's easier said than done, But get those fans back and you break even.

Re: £600K loss last year! : Thu Sep 21, 2017 10:12 am  

Th'Observer wrote: Does anyone have the profit and loss year on year since Lenagan took over? Haven't we had a mixed bag of profits and losses over the past 10 years? And with a better projected result for 2017 this would continue that trend. I'd guess this is probably not the case for many sports clubs who consistently make losses year on year. IL has stated on many occasions that he wants the club to "wipe it's own face". I see the trolls are out on social media loving the £600k loss but they probably didn't bat an eyelid in the years we made profits. Financials from 1997 to 2016 https://beta.companieshouse.gov.uk/comp ... ory?page=1 And if you think it's purely down to not owning our own ground then read this on Red Vee http://www.redvee.net/forums/showthread ... sses-Widen

Th'Observer wrote: Does anyone have the profit and loss year on year since Lenagan took over? Haven't we had a mixed bag of profits and losses over the past 10 years? And with a better projected result for 2017 this would continue that trend. I'd guess this is probably not the case for many sports clubs who consistently make losses year on year. IL has stated on many occasions that he wants the club to "wipe it's own face". I see the trolls are out on social media loving the £600k loss but they probably didn't bat an eyelid in the years we made profits. Financials from 1997 to 2016 https://beta.companieshouse.gov.uk/comp ... ory?page=1 And if you think it's purely down to not owning our own ground then read this on Red Vee http://www.redvee.net/forums/showthread ... sses-Widen

Re: £600K loss last year! : Thu Sep 21, 2017 1:47 pm  

and were does the acquiring of robin park come in all this?

Re: £600K loss last year! : Thu Sep 21, 2017 2:45 pm  

tangerine wrote:

and were does the acquiring of robin park come in all this?

What do you mean?
These are the 2016 accounts, the Robin Park acquisition, Orrell sale, hasn't been concluded as yet, to my knowledge.

Re: £600K loss last year! : Thu Sep 21, 2017 3:00 pm  

Why do we all care about the P&L? A loss made, writedown, exceptional costs whatever, that's no tax to pay and carry the loss over to next year.

[Wigan6/Leeds1 Andy]

Re: £600K loss last year! : Thu Sep 21, 2017 3:33 pm  

goobervision wrote:

Why do we all care about the P&L? A loss made, writedown, exceptional costs whatever, that's no tax to pay and carry the loss over to next year.

Because somebody needs to fund the losses. Thankfully Lenagan is at the moment (to the tune of £5.9m) but in the medium and long term the club needs to be able to "wash it's own face" or it isn't sustainable - just remember what happened to us in 1999.