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Author Topic: Accounts Show Reduced Loss  (Read 18043 times)

Offline adrenachrome

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Accounts Show Reduced Loss
« on: February 24, 2015, 05:12:55 PM »
Brum Mail

Quote
Aston Villa still made a loss - but a much improved one - in latest set of financial accounts

Loss has gone from £51.8m to £3.9m in the year ending May 2014


    16:11, 24 February 2015
    By Mat Kendrick


 Aston Villa's latest accounts show that they made a loss of £3.9 million in the year ending May 2014.

It is a £47.9m improvement on the previous year when they posted losses of £51.8 million.

According to a statement on the club's official website, the reduction was due in part to a £33.2m increase in turnover to £116.9m.

There was also a £12.9m reduction in operating expenses to £121.7m, which resulted in an operating loss of £4.8m compared to £50.9m for the previous year.

A new broadcasting deal accounted for much of the increased turnover, although a boost in Villa's commercial and sponsorship revenues also played a part.

The club reports that the accounts also reflect the December 2013 conversion of £90.1m of loan notes into called up share capital.

The consolidated balance sheet at May 31, 2014 shows net assets of £2.1m compared to net liabilities of £84.2m at May 31, 2013.

Robin Russell, chief financial officer, said: "We are very pleased to be able to report improved results after a period of heavy financial losses.

"By controlling costs we have been able to take advantage of the new Premier League broadcasting deal to bring the club closer to self-sufficiency.

"Compliance with Financial Fair Play continues to be a key component of our planning and we remain focused on growing the club in a responsible and sustainable way."


Offline eamonn

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Re: Accounts Show Reduced Loss
« Reply #1 on: February 24, 2015, 05:37:43 PM »
Risso, Villadawg (come back!), Adam, Simon Ward, er, etc. start your engines...

Offline silhillvilla

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Re: Accounts Show Reduced Loss
« Reply #2 on: February 24, 2015, 05:39:41 PM »
Brilliant news. We've finally managed to balance the books at the probable expense of our Premier league status.
Well Done all.

Offline ozzjim

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Re: Accounts Show Reduced Loss
« Reply #3 on: February 24, 2015, 05:50:07 PM »
And 90 million out of Lerner's pocket of course.

Offline ciggiesnbeer

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Re: Accounts Show Reduced Loss
« Reply #4 on: February 24, 2015, 05:51:10 PM »
Great. The parachute payments and mass exodus of players during the summer may put us into the black for a year to two as we struggle in the Championship.

Well done everyone involved!

Twats.


Offline PeterWithe

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Re: Accounts Show Reduced Loss
« Reply #5 on: February 24, 2015, 05:52:02 PM »
Brilliant news. We've finally managed to balance the books at the probable expense of our Premier league status.
Well Done all.

Just a short push now to the Deloitte Top 20 rich list and the Sherpa Van trophy.

Offline dekko

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Re: Accounts Show Reduced Loss
« Reply #6 on: February 24, 2015, 05:54:52 PM »
IM SO SO HAPPY ABOUT THIS NEWS

Offline AV82EC

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Re: Accounts Show Reduced Loss
« Reply #7 on: February 24, 2015, 05:55:09 PM »
Well at least the books balance on P& L and balance sheet and we've stopped haemorrhaging cash. I'd be interested to see the split of that increase between TV and Commercial revenue.

Online paul_e

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Re: Accounts Show Reduced Loss
« Reply #8 on: February 24, 2015, 05:56:33 PM »
What else do people expect though? Should Lerner have just carried on writing off £50m a year to please you?

We had to do this, how bad things have been is more down to the fact that the people trusted to oversee it have been poor and there's been little by way of underlying philosophy behind it.  If you want to bitch about Lerner focus on the lack of footballing experience on the board or the choice of managers, moaning that he didn't want to carry on underwriting losses of £50m a year is plain wrong.

In terms of the actual accounts this ties in perfectly with What Russell said last year which was that we were pretty much on track now.

Offline peter w

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Re: Accounts Show Reduced Loss
« Reply #9 on: February 24, 2015, 05:56:39 PM »
I'm expecting to see the General back at any time.

Offline Hairbandinho

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Re: Accounts Show Reduced Loss
« Reply #10 on: February 24, 2015, 05:58:29 PM »
Congrats to the club that they managed to do this, at the likely cost of being relegated

Thus missing out on the biggest TV pay deal ever.

Top notch work.

Offline dekko

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Re: Accounts Show Reduced Loss
« Reply #11 on: February 24, 2015, 06:05:17 PM »
What else do people expect though? Should Lerner have just carried on writing off £50m a year to please you?

We had to do this, how bad things have been is more down to the fact that the people trusted to oversee it have been poor and there's been little by way of underlying philosophy behind it.  If you want to bitch about Lerner focus on the lack of footballing experience on the board or the choice of managers, moaning that he didn't want to carry on underwriting losses of £50m a year is plain wrong.

In terms of the actual accounts this ties in perfectly with What Russell said last year which was that we were pretty much on track now.

Agreed

Offline peter w

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Re: Accounts Show Reduced Loss
« Reply #12 on: February 24, 2015, 06:07:54 PM »
What else do people expect though? Should Lerner have just carried on writing off £50m a year to please you?

We had to do this, how bad things have been is more down to the fact that the people trusted to oversee it have been poor and there's been little by way of underlying philosophy behind it.  If you want to bitch about Lerner focus on the lack of footballing experience on the board or the choice of managers, moaning that he didn't want to carry on underwriting losses of £50m a year is plain wrong.

In terms of the actual accounts this ties in perfectly with What Russell said last year which was that we were pretty much on track now.

Wwe may have needed to do it but not at the speed in which it has been done. look at the league table.

Offline Ads

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Re: Accounts Show Reduced Loss
« Reply #13 on: February 24, 2015, 06:10:59 PM »
We won't be relegated, sI this taken in the round, can only be good.

Online paul_e

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Re: Accounts Show Reduced Loss
« Reply #14 on: February 24, 2015, 06:12:32 PM »
What else do people expect though? Should Lerner have just carried on writing off £50m a year to please you?

We had to do this, how bad things have been is more down to the fact that the people trusted to oversee it have been poor and there's been little by way of underlying philosophy behind it.  If you want to bitch about Lerner focus on the lack of footballing experience on the board or the choice of managers, moaning that he didn't want to carry on underwriting losses of £50m a year is plain wrong.

In terms of the actual accounts this ties in perfectly with What Russell said last year which was that we were pretty much on track now.

Wwe may have needed to do it but not at the speed in which it has been done. look at the league table.

Was it that quick though?  If we'd spent as much as we have but spent it well and, over the 3 managers, following a single plan, would we have  suffered so much?

This is the point, everything from the end of mon's last season has been bad management but it has been underfunded to the extent that many suggest.

 


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