By Concerned Agronomist
We posted a loss of £17.1m versus a loss of £4.1m last year – so £13m worse.
This is broken down as follows:
Operating result £8.5m better.
Player Trading £18.6m worse.
One off costs £2m worse
Interest and tax £0.9m worse.
Clearly player trading is the big negative where last year we had Bassey and Aribo to cover the large operating loss. That is why we need to change the model to recruit and trade younger players on lower wages and become sustainable. Success will be determined by our ability to find them and develop them.
The auditors signed off the accounts with no material uncertainty so the will have got comfort from the board and investors that they will continue to support the business.
The really good news comes in the form of the club now being free of litigation for the first time since 2012.