Exiles in £350k annual loss

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Exiles in £350k annual loss

Postby Willthiswork » April 19th, 2018, 11:28 am

http://www.southwalesargus.co.uk/sport/ ... __350_000/

NEWPORT County AFC made a loss of more than £350,000 last season, their latest set of financial accounts reveal.

County's loss of £351,456 was for the financial year ending June 2017. It compared with a profit of £339,522 for the previous year.

"During the year 2016-17 season the club experienced poor performances both on and off the field," said the club.

But this season’s run to the fourth round of the FA Cup, which saw the Exiles earn a replay against Premier League Tottenham Hotspur at Wembley, means the board anticipates that the "club will make a profit for the coming financial period.”

The club added: "The Board have also prepared strict budgets for the 2018-19 season with a view to reducing unnecessary costs and increasing revenue streams."
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Re: Exiles in £350k annual loss

Postby Bush » April 19th, 2018, 11:30 am

In other words without the FA cup we were fecked.
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Re: Exiles in £350k annual loss

Postby Willthiswork » April 19th, 2018, 11:32 am

Bush wrote:In other words without the FA cup we were fecked.
Not really, it was June 16 to June 17. I think it means that next year's accounts should show a healthy profit?
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Re: Exiles in £350k annual loss

Postby Bush » April 19th, 2018, 11:35 am

Willthiswork wrote:
Bush wrote:In other words without the FA cup we were fecked.
Not really, it was June 16 to June 17. I think it means that next year's accounts should show a healthy profit?


Yes it will after the million pound from the cup. God knows what it would be like if we went out first round. 350k loss for a club that doesn’t have any assets is scary. Well run club though. Queue the usuals now justifying 350k loss.
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Re: Exiles in £350k annual loss

Postby Willthiswork » April 19th, 2018, 11:36 am

Bush wrote:Queue the usuals now justifying 350k loss.
The fact we stayed up?
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Re: Exiles in £350k annual loss

Postby Bush » April 19th, 2018, 11:42 am

Willthiswork wrote:
Bush wrote:Queue the usuals now justifying 350k loss.
The fact we stayed up?


We lost more money in 12 months than we had to raise to save the club. If you ain’t concerned by that I don’t know what you will be concerned with. God bless o’brien’s goal and god bless maclausky goal.
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Re: Exiles in £350k annual loss

Postby Willthiswork » April 19th, 2018, 11:45 am

Bush wrote:
Willthiswork wrote:
Bush wrote:Queue the usuals now justifying 350k loss.
The fact we stayed up?


We lost more money in 12 months than we had to raise to save the club. If you ain’t concerned by that I don’t know what you will be concerned with. God bless o’brien’s goal and god bless maclausky goal.


Speculate to accumulate?
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Re: Exiles in £350k annual loss

Postby jamiedharris » April 19th, 2018, 11:46 am

Full accounts here, for anyone interested:

https://beta.companieshouse.gov.uk/comp ... download=0
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Re: Exiles in £350k annual loss

Postby Bush » April 19th, 2018, 11:53 am

Willthiswork wrote:[quote=

Speculate to accumulate?


A well run club doesn’t gamble on the club’s future.
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Re: Exiles in £350k annual loss

Postby Taffweigan » April 19th, 2018, 11:54 am

The £350k was the Connor Washington money we used to sign the players who kept us up. Without that we would've broke even
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Re: Exiles in £350k annual loss

Postby Bush » April 19th, 2018, 12:03 pm

Taffweigan wrote:The £350k was the Connor Washington money we used to sign the players who kept us up. Without that we would've broke even


That doesn’t even make sense.
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Re: Exiles in £350k annual loss

Postby Bangitintrnet » April 19th, 2018, 12:21 pm

Bush wrote:
Taffweigan wrote:The £350k was the Connor Washington money we used to sign the players who kept us up. Without that we would've broke even


That doesn’t even make sense.


If you overspend by £350k to stay up, and over the same period that you have transfer money of £350k coming in, the bank balance is £0
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Re: Exiles in £350k annual loss

Postby Amberexile » April 19th, 2018, 12:34 pm

Time for the shareholders to ask the club about the overdue AGM so they can explain?
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Re: Exiles in £350k annual loss

Postby Bush » April 19th, 2018, 12:35 pm

Bangitintrnet wrote:
Bush wrote:
Taffweigan wrote:The £350k was the Connor Washington money we used to sign the players who kept us up. Without that we would've broke even


That doesn’t even make sense.


If you overspend by £350k to stay up, and over the same period that you have transfer money of £350k coming in, the bank balance is £0


350k spent on those players signed in jan last year? So o’brien, Mickey D, Craig Reid, williams, bird, pipe got 350k between them for 5months Work? That’s an average of 60k each?
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Re: Exiles in £350k annual loss

Postby Bush » April 19th, 2018, 12:56 pm

Willthiswork wrote:
Bush wrote:In other words without the FA cup we were fecked.
Not really, it was June 16 to June 17. I think it means that next year's accounts should show a healthy profit?


Flynny seems to think so.

https://t.co/rbwUaD4l8N
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