Saints today revealed earnings before interest and depreciation of £19,000 for the financial year ending October 2018.
Club chairman Eamonn McManus said: “This was a satisfactory financial performance considering we did not reach any finals last year.
“We would anticipate a materially improved underlying financial performance in 2019 and further improvements in 2020 and beyond, reflecting on the restructuring of the balance sheet in 2019 and the capitalisation of directors loans.
“The club is very soundly positioned going forward in terms of both assets and profitability.”
This positive financial news comes after the club recently announced major capitalisation of shareholders’ loans into permanent equity capital.
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St Helens reveal small profit in latest financial figures
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St Helens reveal small profit in latest financial figures
Anyone can support a team when it is winning, that takes no courage.
But to stand behind a team, to defend a team when it is down and really needs you,
that takes a lot of courage. #18thMan
But to stand behind a team, to defend a team when it is down and really needs you,
that takes a lot of courage. #18thMan
Re: St Helens reveal small profit in latest financial figures
How much after interest and depreciation?
Re: St Helens reveal small profit in latest financial figures
They probably saw a increase of fickle fans
These are two reasons not to trust people.
1. We don't know them.
2. We do know them.
1. We don't know them.
2. We do know them.
Re: St Helens reveal small profit in latest financial figures
I am no accountant but doesn’t this mean they have added the interest due on directors loans to the loan capital? So the club has not had to pay the interest that was due so has not had that expense?
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Re: St Helens reveal small profit in latest financial figures
That is correct. Any unpaid interest is added onto the outstanding/original loan.
Re: St Helens reveal small profit in latest financial figures
So had they paid the interest due, they would have made a loss?The booze hound wrote: ↑Thu Jul 25, 2019 1:33 pmThat is correct. Any unpaid interest is added onto the outstanding/original loan.
Some very generous directors with their loans at Saints. They had better hope they never fall out of love with the club and call in the loans.
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Re: St Helens reveal small profit in latest financial figures
Correct. I raise the issue of Eddie Davies’s family at Bolton Wanderers. Saints have simply used an accounting technique to show a profit. We also need to remember that as the ground requires more investment the older it gets then losses are likely to increase.DaveO wrote: ↑Fri Jul 26, 2019 2:56 pmSo had they paid the interest due, they would have made a loss?The booze hound wrote: ↑Thu Jul 25, 2019 1:33 pmThat is correct. Any unpaid interest is added onto the outstanding/original loan.
Some very generous directors with their loans at Saints. They had better hope they never fall out of love with the club and call in the loans.
Winning is down to 99% perspiration and 1% inspiration - Shaun Edwards