Whelco Holdings Publish Accounts 2007

[cpwigan]

http://www.wigantoday.net/wigannews/Foo ... 3795651.jp

According to Whelco Holdings' accounts, Wigan Warriors also posted pre-tax losses of £1.1m, although this was partly due to an exceptional write-off of £755,000 due to the cost of training facilities at John Rigby College.

Looks like Orrell was cheap as chips and a great investment

[Fujiman]

cpwigan posted:
http://www.wigantoday.net/wigannews/Foo ... 3795651.jp

According to Whelco Holdings' accounts, Wigan Warriors also posted pre-tax losses of £1.1m, although this was partly due to an exceptional write-off of £755,000 due to the cost of training facilities at John Rigby College.

Looks like Orrell was cheap as chips and a great investment

I'm sure some will still find an excuse to slag off uncle dave

[GeoffN]

Which financial year was Fielden's £450k accounted in? He signed in June last year, so I'd expect that to be in last year's accounts too. Possibly Millward's compensation too, and didn't we pay Bradford cash for Noble's contract?

Seems to me that if you take out "exceptional" payments like these, we make a healthy operating profit.

[jolleymike]

when fielden signed in june this would form part of the 2007 - 2008 year end accounts the ones mentioned above i would think be for the 2006 - 2007 tax year IE januuary 31 2006 to Feb 1st 2007 - the 2007 - 2008 accounts wont be published until this time next year i think, but i am probably wrong.

either way it doesnt make good reading for the latics fans, i would have though that the account under the new ownership will make better reading - not trying to say that welco were cooking the books but i would imagine that under the new regime the book might be a bit more tranparent!!!

[DaveO]

jolleymike posted:
either way it doesnt make good reading for the latics fans, i would have though that the account under the new ownership will make better reading - not trying to say that welco were cooking the books but i would imagine that under the new regime the book might be a bit more tranparent!!!

Why? Are these accounts not transparent now? What has been hidden?

Dave

[doc]

Losses have been offset by £10 million profit from Pooles Pies.

[Markus35]

Im not sure,now we are paying rent to Dave for the stadium.

Plus sharing some of the match day profits.

Are Warriors struggling to make any sort of profit?

I guess time will tell.

[Fujiman]

Markus35 posted:
Im not sure,now we are paying rent to Dave for the stadium.

Plus sharing some of the match day profits.

Are Warriors struggling to make any sort of profit?

I guess time will tell.

Usual ill informed drivel :eusa17:

[DaveO]

Markus35 posted:

Are Warriors struggling to make any sort of profit?

No. If you recall when IL took over he said he expected to be in profit (following on form the loss incurred due to buying Orrell's ground) either this season or next (can't remember which one he said).

He also said we got a very good deal on renting the stadium from DW, better than Quins get for theirs I think was the implication of what he said.

Basically DW gave Wigan RL a very generous lease on the ground and IL was very happy as it meant Wigan RL would be easy to run as a going concern.

Dave