' Still a lot of hard work to be done '

I was reading some of Keith Morgans(Accountant) comments regarding our latest accounts and he's right,we can't rest there, our debt had become so bad over the last 5 years, a lot of hard work to reduce them still has to be done.

viewtopic.php?f=2&t=169498

Thanks Keith

There is still a lot of hard work to do , some of which has already taken place this season , to further reduce the cost base.
In the 2015 accounts , the club benefited from the £13.4m accounting adjustment which won`t be repeated this season and the recently announced debt write off for this year at £10m is £3m less than last season. Also , profit on player sales this season so far limited to the £3m made on Joe Mason (unless I have forgotten a sale)is far less than the £9.7m made last season.

So a further £23m or so of cost savings to be made this season to make a profit of about £4m again. Can`t see that happening , even with the further player wage bill reductions made so far ,so I think the target is more likely to be keeping the loss for this season within the FFP parameters.

Keith

Keith is as factually informative as ever and that should be appreciated by those of us genuinely interested in what is going on financially 'behind the scenes' at our club