Nick I was wondering if Fisher's statement about the profit the club is making is the 'evidence' you were looking for. I know you didn't understand what I was saying to you, but hopefully now someone a lot closer to you has explained it you might realise how ticket money gets into an owner's pocket. No need to apologise.
1m profit this year. (1 Viewer)
- Thread starter covman
- Start date
torchomatic
Well-Known Member
Maybe it's the season ticket money going directly to the Cayman Islands from all the traitors who go to the Ricoh?
Well a little harsh, but if that's your opinion.
torchomatic
Well-Known Member
Nah, just regurgitating the shit you come out with. No integrity or moral fibre these season ticket holders.
Yeah I used to repeat what people said when I was a kid.
Alan Dugdales Moustache
Well-Known Member
1 million pounds is terrific news. I'm impressed how much we have the turned it around from such a year on year loss. Next year the profit will surely increase still further and the following season I expect record profits. Just think how much buying power we will have in the Conference.
fernandopartridge
Well-Known Member
It'll be a first
torchomatic
Well-Known Member
Note......no response from the usual suspects.....I think you all know to whom I am referring
So you tell us Tony, do SISU get our season ticket money or not?
Nick
Administrator
Somebody closer to me?
That still doesn't explain it does it? Will need to see the accounts.
I thought you explained it about the share prices going up, or it meant that SISU didn't need to put money in to pay the bills?
Nick
Administrator
Note......no response from the usual suspects.....I think you all know to whom I am referring
He posted it less than an hour ago, at least give it a couple of days before trying to pull that one.
Nick
Administrator
It still doesn't prove anything does it? I guess Tim Fisher is the teller of truth when it suits
You just need to see your "reasoning" the other day
Fisher is not an accountant - something at least I can relate to.
So maybe - just maybe - he thinks in cash-flow reality and discard all the wizardry in depreciation, amortization and accrued interest.
In that case it is possible to have a profit of £1m even if the accounts signed shows a bottom line negative figure.
So maybe - just maybe - he thinks in cash-flow reality and discard all the wizardry in depreciation, amortization and accrued interest.
In that case it is possible to have a profit of £1m even if the accounts signed shows a bottom line negative figure.
clint van damme
Well-Known Member
surely if the objective is to run the club as cash neutral then that 1m needs ploughing back into the team?
Nick
Administrator
Tenner to charity says the accounts won't say £1m profit, it will be spin as it was before Interest and Tax.
shmmeee
Well-Known Member
If my Aunt had balls she'd be my Uncle, but she don't, so she ain't.
Lol. Some do believe it!
Nick
Administrator
You started a thread believing it and using it as "evidence"?
Skybluefaz
Well-Known Member
A million pound profit but a 40k fine will stop us signing a centre half according to Tim?
RegTheDonk
Well-Known Member
Did I hear right Fisher said we were £7M down then turned a profit after selling players? I couldn't have heard that correctly ... and if I did, wtf do we do next year to break even?
peeler
Well-Known Member
That of course is only if you believe Tim Fisher
SkyBlue_Bear83
Well-Known Member
He said 1.7 million
Grendel
Well-Known Member
They don't - it's operating profit that funds cash flow deficits.
mark82
Super Moderator
Profits don't necessarily go to the owners. Frankly, even if it did, no-one can argue they haven't put money in over the years. It's a business and it's their money anyway, not ours. Anyway, whatever, we're hardly a cash cow for them and it's ridiculous to think so. Let's focus on the actual issues they've caused rather than one they might be on the way to fixing from previous ownership.
Actually, if the club are turning a profit it'll make us more attractive to investors. It's not like we have much else to sell.
oldskyblue58
CCFC Finance Director
So 1m profit
In that case why is it not applied to improving things in the same year if the target we are given is breakeven. ?
How do we know it is a 1m profit when the year end is 31/05/17 and we haven't got to the January transfer market?
If we are breaking even cash flow wise what non cash item has created this operating profit. ?
What is the actual net profit?
If the really important figure is cash flow breakeven then why highlight operating profit at all? What is the actual cash situation?
Figures are often thrown about to confuse and misdirect by Mr fisher
In that case why is it not applied to improving things in the same year if the target we are given is breakeven. ?
How do we know it is a 1m profit when the year end is 31/05/17 and we haven't got to the January transfer market?
If we are breaking even cash flow wise what non cash item has created this operating profit. ?
What is the actual net profit?
If the really important figure is cash flow breakeven then why highlight operating profit at all? What is the actual cash situation?
Figures are often thrown about to confuse and misdirect by Mr fisher
SkyBlue_Bear83
Well-Known Member
Fisher said the operating loss was 1.7 million, the one million profit is after the sale of Maddison.
As for the January transfer window I'm not sure what you mean? I'm pretty sure the time frame Fisher is referring to when he talks about the 1 million profit does not include the upcoming window.
oldskyblue58
CCFC Finance Director
That's kind of the point..... no one is sure what he means or the periods he is pointing to. It is not hard to be specific and clear but it never happens does it...... wonder why ?
Rusty Trombone
Well-Known Member
I think the £1m profit figure is in respect of 31.5.16 year end. He talked about the figures at the Oct SCG meeting.
Extract.
Financial Numbers - The scare stories circulated by people who simply don’t know our financial numbers are disappointing. I find this misinforming inappropriate and irresponsible. This is the reason the financial numbers are being released to you tonight ahead of formal release by our accountants. These are unaudited but I do not expect them to change significantly.
Revenues:
FY ending (May 31st) 2014: £3.8m
FY 2015: £4.8m
FY 2016: £5.4m
Operating loss last year: £3.8m
Operating loss this year: £1.7m
EBIT/profit after player trading last year: Loss of £1m
EBIT/profit after player trading this year: +£700K
As a business we are travelling in the right direction.
This business model is not ideal and we need to be breaking even before player trading. The stated aim is to get away from selling footballers when we need to but only sell players when it is the right time for the football club and not because of any short fall in the P/L. Every League One club is dependent on player trading.
Read more at http://www.ccfc.co.uk/news/article/...her-10102016-3356957.aspx#SLEHmXbYUwKJJVUi.99
oldskyblue58
CCFC Finance Director
Yes I have seen that but am sure he said " this year" in the interviews The year to 31/05/16 is now last year and does not affect current cash flow or player budget. Where are we now is important not last year's results. We are in the 2017 financial period and previous years do not affect plans going forward.
But that's the point we are directed to things that are unimportant to now and the future of Ccfc. Great we made an operating profit to 31/05/2016 but it is history and any potential buyer/investor/fan will need to know the current and future financials are realistic, secure, and positive. 2016 and before can not be changed
But that's the point we are directed to things that are unimportant to now and the future of Ccfc. Great we made an operating profit to 31/05/2016 but it is history and any potential buyer/investor/fan will need to know the current and future financials are realistic, secure, and positive. 2016 and before can not be changed
Captain Dart
Well-Known Member
The quoted figure was EBIT ( earnings before interest and taxes), as last seasons interest was over £1M and income tax was ~£1M then that's a £1M loss isn't it?