Rogues Gallery wrote:
So your actual loss was around £650K last year, which was a big improvement but still a big loss. If McManus says it's drizzle I would get my big brolly and wellies
I think you're delibertaely misunderstanding the numbers so I'll leave it with a couple of points of clarification then you can interpret how you like.
You've taken a number (£650k loss) that is stated after a £250k interest charge that relates to connected party balances which have since been converted to shares. It is completely meaningless whe looking at the underlying operating profit - the charge won't exist next year.
Your number also is stated after non-cash depreciation charges of c.£450k. We could depreciate the (fully owned and paid for) stadium by £10m if we wanted to and show a £10m loss for you to get excited about, ut in reality it wouldn't make any difference at all to the underlying trading performance and cash generation of the Saints.
It's a big improvement on last year and I expect we'll see further improvement for the year to October 2019.
But the Wigan accounts will be out soon so you'll be able to try to find your angle that says they are far rosier and continue your line that owning a stadium is a mugs game.