Announcement

Collapse
No announcement yet.

Latest Accounts 2016/17

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Latest Accounts 2016/17

    Always difficult to put the club’s finances in perspective but my take on the headline figures is that things don’t look too bad despite the persistent negative cash flow which requires the continued support of the owner.

    Two things that stand out for me from the figures are the stubbornly low attendance levels which are undoubtedly a major handicap and how crucial it is that we at least maintain our championship status.

    Link:

    https://www.insidermedia.com/insider...-turnover-jump

    Turnover has risen by a quarter at Preston North End although the Championship side warned that the high wage bill means cash-flow "continues to be adverse" and the club remains reliant on the financial support of its owner, leisure and property tycoon Trevor Hemmings.

    The latest set of accounts for Preston North End, which have been filed on Companies House, reveal that turnover increased by 27 per cent to 13.5m in the year ending 30 June 2017. This figure was boosted by a 45 per cent rise in turnover from Premier League and English Football league distributions and televised games to 6.8m. In addition, turnover from season and match-day ticket sales including cup games climbed by 13 per cent to 3.7m.

    The results also show that total staff costs, comprising wages and salaries, social security costs and pension contributions, increased by 27 per cent to 13.5m in 2016/17. This means that total staff costs were equivalent to 100 per cent of turnover during the year.

    Meanwhile, the Lilywhites' pre-tax losses narrowed by 35 per cent to 2.9m.

    In their report accompanying the accounts, the directors said: "Turnover for the year was 13.5m which was 2.9m higher than the previous year, mainly due to increased central distribution income from the Premier League and the English Football League. In addition, income from FA Cup gate receipts was higher.

    "Average attendances were 12,611 for 2016/17 compared to 13,007 in 2015/16. Season ticket numbers were 7,605 in 2016/17 compared to 7,728 holders for 2015/16.

    "Cash-flow continues to be adverse as the club has contracted a squad with wages which are high in comparison to its revenue. The company has therefore been reliant on the financial support of its shareholder."

    Hemmings acquired Preston North End in 2010. The leisure and property tycoon also owns pub company Trust Inns and property company Northern Trust.

    A passionate racing fan, Hemmings has won the Grand National as an owner on three separate occasions.
    Last edited by JK; 14-11-2017, 01:32 PM.

  • #2
    Take the owner s contribution out of it and it looks disastrous.

    Comment


    • #3
      Originally posted by BeteNoir View Post
      Take the owner s contribution out of it and it looks disastrous.
      Nonsense.

      Firstly it's hard to determine the true state of the club's finances with such limited financial information.

      But its not all doom and gloom, pre tax losses are down. Turnover is up. And will no doubt increase again next year.

      I mean I appreciate Mr Hemmings massively for his contribution in offsetting the losses, which look bad on first glance. But we are sitting on Playing Assets worth 10 Million + (Hugill being my example in this instance)

      If we cashed in on Hugill when Ipswich offered us 2.5 million. The pre tax loss is minimal. If not at break even.

      When we eventually do cash in on a player. The books will look a lot healthier from a financial perspective no doubt.

      I'd love to see the state of the financial losses from clubs like Derby, Sheff Wed, both spent huge amounts last year.

      Comment


      • #4
        Originally posted by BeteNoir View Post
        Take the owner s contribution out of it and it looks disastrous.

        to true if it wasn't for trevor hemmings, still not enough preston fans supporting the club
        when i was young i had no sense
        i brought a flute for 50 pence
        the only tune i could play
        was fuck the P_ _ _ and the I_ _

        Comment


        • #5
          Crowds this season, along with ST sales, are up by about 1000+.

          Lets view things in 12 months time and then compare to now. Be a lot rosier imo.
          RIP Kurt
          Best mates for 14 years
          09/98 - 11/06/12

          Comment


          • #6
            Originally posted by L30N View Post
            Nonsense.

            Firstly it's hard to determine the true state of the club's finances with such limited financial information.

            But its not all doom and gloom, pre tax losses are down. Turnover is up. And will no doubt increase again next year.

            I mean I appreciate Mr Hemmings massively for his contribution in offsetting the losses, which look bad on first glance. But we are sitting on Playing Assets worth 10 Million + (Hugill being my example in this instance)

            If we cashed in on Hugill when Ipswich offered us 2.5 million. The pre tax loss is minimal. If not at break even.

            When we eventually do cash in on a player. The books will look a lot healthier from a financial perspective no doubt.

            I'd love to see the state of the financial losses from clubs like Derby, Sheff Wed, both spent huge amounts last year.
            One thing that strikes me is how, for all the talk of needing to get people through the doors to help the bottom line etc. etc., how little difference increasing the attendance by, say, 1500 per game would make. It'd probably add 3-400k in gate receipts at the end of the day. Compare this with the additional revenue from a decent cup run, e.g. additional shared revenue from three games, and its probably about the same. But we don't get multi-page threads talking about how important it is to do well in the cup!

            Bottom line, going to great lengths to increase crowds by 10% will make little difference to the clubs cash position (although I'm not arguing that it wouldn't be desirable for other reasons). The only way we can hope to survive and prosper at this level is with a careful policy of combining a nucleus of battle-hardened experienced and established pros with promising youngsters that we can develop and sell on.
            Recommended ignore list: 05simpsonm, bsk4ever, Hans Asperges, PNE4LIFE, preach, billymac

            Comment


            • #7
              Originally posted by Jack Daniels View Post
              Crowds this season, along with ST sales, are up by about 1000+.

              Lets view things in 12 months time and then compare to now. Be a lot rosier imo.
              When we're promoted as champions, do you mean JD?

              Comment


              • #8
                It was said a few seasons ago by a chairman who left us for a chicken farm outfit that we needed gates of 18000 to break even. The current gate average is around 5000 less than that. I don't know what the break even figure is now but if anyone thinks the current accounts are ok then I'll have a pint of what you're on. Just saying.

                Comment


                • #9
                  Originally posted by BeteNoir View Post
                  It was said a few seasons ago by a chairman who left us for a chicken farm outfit that we needed gates of 18000 to break even. The current gate average is around 5000 less than that. I don't know what the break even figure is now but if anyone thinks the current accounts are ok then I'll have a pint of what you're on. Just saying.
                  And knowing that fella, the figure of 18,000 would of been totally plucked from thin air.

                  Comment


                  • #10
                    Originally posted by tom23 View Post
                    And knowing that fella, the figure of 18,000 would of been totally plucked from thin air.
                    " plucked " - clever !

                    Comment


                    • #11
                      Originally posted by PNE Plungy View Post
                      When we're promoted as champions, do you mean JD?
                      Pre injury ravaged October, yes!
                      RIP Kurt
                      Best mates for 14 years
                      09/98 - 11/06/12

                      Comment


                      • #12
                        Originally posted by Jack Daniels View Post
                        Pre injury ravaged October, yes!
                        Hmmmm.......

                        Comment


                        • #13
                          Latest Accounts 2016/17

                          As a business those figures are disastrous, but not as bad as most football league clubs. Makes you really appreciate the financial input of Mr Hemmings, can you imagine a business owner having to put in 5 million of his own cash just to break even every year?

                          Football is f*#*ed!

                          Sent from my iPhone using Tapatalk

                          Comment


                          • #14
                            Originally posted by BeteNoir View Post
                            It was said a few seasons ago by a chairman who left us for a chicken farm outfit that we needed gates of 18000 to break even. The current gate average is around 5000 less than that. I don't know what the break even figure is now but if anyone thinks the current accounts are ok then I'll have a pint of what you're on. Just saying.
                            The "break even figure" was chicken feed to someone like Derek Shaw ........ I thought it was funny anyway!

                            Comment


                            • #15
                              Originally posted by ChipBarm View Post
                              Football is f*#*ed!
                              Yep. A business awash with money at the top end but you don't need to go far down before you find it dying on the bones of its arse. Players and agents the winners, the rest of us taken for the mugs we are.

                              Maybe one day some sanity will prevail but I'm not holding my breath.
                              Recommended ignore list: 05simpsonm, bsk4ever, Hans Asperges, PNE4LIFE, preach, billymac

                              Comment

                              Working...
                              X