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javeajag

AGM Accounts

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Not seen the accounts, but think we are running at substantial deficit - based on ptfc.co.UK posting. Looks like colin weirs money is still propping us up.

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2 hours ago, blakey said:

Not seen the accounts, but think we are running at substantial deficit - based on ptfc.co.UK posting. Looks like colin weirs money is still propping us up.

Not sure if it is or we are merely eating into our cash reserves.

The accounts are up to May if I remember right, and COVID closed us down in March, if that’s right then 2 or 3 months COVID impact is being blamed on £128k loss, remembering season ticket money was in the bank and players and staff we’re furloughed. 
 

I would be very interested to see today’s balance sheet and especially the current cash reserves, we spent quite a bit at transfer window (wages wise) I can’t see how we’ve been breaking even from then let alone making a profit

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1 hour ago, Yellow & Redneck said:

The turnover in playing and management staff probably haven't helped over the past few years. 3 managers, 4 assistant managers, and lord knows how many players. 

True. The expression "mutually agreeable" is not exactly underused at Firhill. Every time we say "he won't be missed" hides the fact we've likely lost good money paying the player off. 

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1 hour ago, Lenziejag said:

So even if turnover hadn’t dropped, they would still have made a loss ?

Yes - £1.3 M loss if turnover had remained the same.  68% wage to turnover ratio seems high to me, so the £500,000 increase in wages is not only high, but if the wage bill had remained the same,  they would  still have made a loss of £800,000.

Edited by East Kent Jag II

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2 hours ago, Fawlty Towers said:

Going by the Aberdeen reaction I guess not much sympathy for our Glasgow neighbours:

https://www.bbc.co.uk/sport/football/55024741

Any idea what proportion of the stadium capacity is ST and is there still a requirement to have 10% available for away fans ? I can’t see there being much scope for higher income via gate receipts.

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58 minutes ago, Norgethistle said:

They have lost £81 million since 2012, although people keep putting cash in to balance the books

Do you mean to balance the bank ?

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4 hours ago, Lenziejag said:

Do you mean to balance the bank ?

Bank or books it’s all the same, money comes into bank from Park , Bennet and Co via soft loans and balances the books

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1 hour ago, Norgethistle said:

Bank or books it’s all the same, money comes into bank from Park , Bennet and Co via soft loans and balances the books

That’s fine as long as they have bottomless pits - but at some point they will run out or get fed up bailing them out

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10 minutes ago, Lenziejag said:

That’s fine as long as they have bottomless pits - but at some point they will run out or get fed up bailing them out

Then the next staunch mug will likely step up

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