Record Losses....

[N'ZMAV]

of £54million despite record revenues of £92million.

Just read on Twitter.

More to follow I assume...

[Percy McCarthy]

Fuck me, no wonder Randy's worried. Oh well, the turnover is getting there.

[Simon Ward]

£12million exceptional charges re changes in management!

Turnover up 1.3% to £92million!

Randy has invested an additional £25million!

[TheSandman]

What season is that info for?

[Mr Diggles]

It could look even better next year.

[Simon Ward]

Some good news! Bank borrowings reduced by £8.3million.

All for the year ended 31 May 2011 I think.

[kippaxvilla2]

I was going to say our year end isn't until May.  So they have waited until the last possible date to publish the accounts for last year.

[glasses]

Anyone got links for all of this?

[Mister E]

So what HAS Faulkner actually been doing?!

[Dante Lavelli]

So what HAS Faulkner actually been doing?!

He's increased turnover to a record level.  The cost side is harder to address as the most significant cost is players' wages and they're on X year contracts.

[Concrete John]

So, if we've made £92m and have lossed on £54m, that should mean we've spent £146m?  I'd like to no where!!

If it's 01/06/10 to 31/05/11, then wages would be higher than they are now, but wasn't the peak soemthing like 80% of turnover, so therefore about £74m.  And we also bought Bent in that period, but incoming was the Milner money, which almost balances that out - say £8m defecit.  So where did we the other £64m get spent??

[Mister E]

So what HAS Faulkner actually been doing?!

He's increased turnover to a record level.  The cost side is harder to address as the most significant cost is players' wages and they're on X year contracts.

You're right, although chasing turnover at the expense of profit seems like fools' activity.
Having said that, I haven't scrutinised these figues so perhaps it's too early to make sarcky comments about Faulkner.

[David_Nab]

Those figures will have the Bent and Makoun purchases ,plus manager pay offs of £12mil but not the Young and Downing Sales.I wonder if that revenue includes the Genting sponsership money that along with player sales and layers who left on free's but are off the wage bill should makes thing look alot better for next season..however it does show that relegation would leav eus in a very bad way.

[Matt C]

£12m on 'exceptional charges' in relation to managerial changes is enough to bring tears to the eyes.

[Matt C]

And presuming these figures are pre-Young/Downing sales (which I assume they must be) then it goes some way to explaining with the latter we changed our tact quite quickly on selling him.