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Chelsea FC Team Talk/Gossip/Rumours Thread 10/11 (mod warning in post #7124)
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CHELSEA BECOMES CASH POSITIVE
Posted on: Mon 31 Jan 2011
Chelsea FC plc becomes cash positive as it prepares for UEFA financial fair play rules
Chelsea FC plc today announced that results for the financial year end June 30, 2010 show the group had become cash positive for the first time since its acquisition by Roman Abramovich. The club had a positive cash inflow of £3.8m in the year compared to a net outflow of £16.9m in the previous year.The club believes it is now well positioned to meet UEFA's financial fair play rules.
In addition, the group had a reduced operating loss of £68.6m on an improved group turnover of £205.8m. The operating loss was £3.6m better than the previous year. The total loss for the financial year was £70.9m.Amortisation of player transfer fees constitutes the largest component of the difference between the positive cash flow and the operating loss.
Group turnover has increased by £2.5m despite the economic situation and reflects the strength of the team, and the attractiveness of the FA Premier League allied with the continued allegiance of our fans and commercial partners.
The main figures were:
- Group turnover was up from £203.3m to £205.8m
- Operating Loss for the financial year reduced from £72.3m to £68.6m
- Net capital expenditure reduced from £4.2m to (£15.5m) due to player sales
- Cash inflow of £3.8m against an outflow of £16.9m in 2008/09.
Chief executive Ron Gourlay said: 'The reduction in operating losses and increased sales in 2009/10 shows that we are moving in the right direction especially when viewed against the difficult macroeconomic environment.
'The club is in a strong position to meet the challenges of UEFA 'financial fair play' initiatives which will be relevant to the financial statements to be released in early 2013.'
Chairman Bruce Buck added: 'That the club was cash generative in the year when we recorded a historic FAPL and FA Cup double is a great encouragement and demonstrates significant progress as regards our financial results.'
Lol
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CHELSEA BECOMES CASH POSITIVE
Posted on: Mon 31 Jan 2011
Chelsea FC plc becomes cash positive as it prepares for UEFA financial fair play rules
Chelsea FC plc today announced that results for the financial year end June 30, 2010 show the group had become cash positive for the first time since its acquisition by Roman Abramovich. The club had a positive cash inflow of £3.8m in the year compared to a net outflow of £16.9m in the previous year.The club believes it is now well positioned to meet UEFA's financial fair play rules.
In addition, the group had a reduced operating loss of £68.6m on an improved group turnover of £205.8m. The operating loss was £3.6m better than the previous year. The total loss for the financial year was £70.9m.Amortisation of player transfer fees constitutes the largest component of the difference between the positive cash flow and the operating loss.
Group turnover has increased by £2.5m despite the economic situation and reflects the strength of the team, and the attractiveness of the FA Premier League allied with the continued allegiance of our fans and commercial partners.
The main figures were:
- Group turnover was up from £203.3m to £205.8m
- Operating Loss for the financial year reduced from £72.3m to £68.6m
- Net capital expenditure reduced from £4.2m to (£15.5m) due to player sales
- Cash inflow of £3.8m against an outflow of £16.9m in 2008/09.
Chief executive Ron Gourlay said: 'The reduction in operating losses and increased sales in 2009/10 shows that we are moving in the right direction especially when viewed against the difficult macroeconomic environment.
'The club is in a strong position to meet the challenges of UEFA 'financial fair play' initiatives which will be relevant to the financial statements to be released in early 2013.'
Chairman Bruce Buck added: 'That the club was cash generative in the year when we recorded a historic FAPL and FA Cup double is a great encouragement and demonstrates significant progress as regards our financial results.'
Lol
What, we MADE a profit?!!! Soon to be a negative again I hope0 -
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everdead.ie wrote: »No you lost £68.6m but they are putting a spin on it
All I hear is the word "positive" 0 -
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:pac::pac:
put the orders in boys!
http://www.thefootballnation.co.uk/acatalog/Fernando-Torres-Chelsea-Home-Shirt.html0 -
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This discussion has been closed.
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