Strugging to see how you cant see what he is alluding to. Despite it being a higher figure, 650k written as that looks a larger figure than £0.7m as written

Quote FearTheVee="FearTheVee"Saints just announced that the 2018 accounts show us back in profit (before depreciation) as McManus trailed. Hopefully the Wigan numbers improve materially too; accounts due next month. The game needs all of our big clubs in rude health, here's hoping Wigan can stem the losses. Next TV deal is a huge moment for the sport.'" I wonder who posted this a couple of years ago. "Bit misleading to tag EBITDA as profit but an improvement nonetheless." forums.redvee.net/showthread.php ... it-in-2016

Quote FearTheVee="FearTheVee"Saints just announced that the 2018 accounts show us back in profit (before depreciation) as McManus trailed. Hopefully the Wigan numbers improve materially too; accounts due next month. The game needs all of our big clubs in rude health, here's hoping Wigan can stem the losses. Next TV deal is a huge moment for the sport.'" I wonder who posted this a couple of years ago. "Bit misleading to tag EBITDA as profit but an improvement nonetheless." forums.redvee.net/showthread.php ... it-in-2016

Only if you have no grasp of numbers at all.

Quote Rogues Gallery="Rogues Gallery"I wonder who posted this a couple of years ago. "Bit misleading to tag EBITDA as profit but an improvement nonetheless." forums.redvee.net/showthread.php ... it-in-2016'" It is misleading. EBITDA and profit are two different things of course. But then saints have no interest to pay as we are debt free, and no tax to pay as the depreciation on the fully paid for stadium acts as a hefty tax shield against modest operating profits. So it’s the correct metric to measure. When I posted the above we had a very different balance sheet, with big interest charges on loan accounts. Now we don’t as all the connected party debt has been converted to equity, but then you knew that.

Quote Rogues Gallery="Rogues Gallery"I wonder who posted this a couple of years ago. "Bit misleading to tag EBITDA as profit but an improvement nonetheless." forums.redvee.net/showthread.php ... it-in-2016'" It is misleading. EBITDA and profit are two different things of course. But then saints have no interest to pay as we are debt free, and no tax to pay as the depreciation on the fully paid for stadium acts as a hefty tax shield against modest operating profits. So it’s the correct metric to measure. When I posted the above we had a very different balance sheet, with big interest charges on loan accounts. Now we don’t as all the connected party debt has been converted to equity, but then you knew that.

Quote FearTheVee="FearTheVee"It is misleading. EBITDA and profit are two different things of course. But then saints have no interest to pay as we are debt free, and no tax to pay as the depreciation on the fully paid for stadium acts as a hefty tax shield against modest operating profits. So it’s the correct metric to measure. When I posted the above we had a very different balance sheet, with big interest charges on loan accounts. Now we don’t as all the connected party debt has been converted to equity, but then you knew that.'" So your actual loss was around £650K last year, which was a big improvement but still a big loss. If McManus says it's drizzle I would get my big brolly and wellies https://s3.eu-west-2.amazonaws.com/docu ... 0845ddf3da

Quote FearTheVee="FearTheVee"It is misleading. EBITDA and profit are two different things of course. But then saints have no interest to pay as we are debt free, and no tax to pay as the depreciation on the fully paid for stadium acts as a hefty tax shield against modest operating profits. So it’s the correct metric to measure. When I posted the above we had a very different balance sheet, with big interest charges on loan accounts. Now we don’t as all the connected party debt has been converted to equity, but then you knew that.'" So your actual loss was around £650K last year, which was a big improvement but still a big loss. If McManus says it's drizzle I would get my big brolly and wellies https://s3.eu-west-2.amazonaws.com/docu ... 0845ddf3da

I think you're delibertaely misunderstanding the numbers so I'll leave it with a couple of points of clarification then you can interpret how you like.

You've taken a number (£650k loss) that is stated after a £250k interest charge that relates to connected party balances which have since been converted to shares. It is completely meaningless whe looking at the underlying operating profit - the charge won't exist next year.

Your number also is stated after non-cash depreciation charges of c.£450k. We could depreciate the (fully owned and paid for) stadium by £10m if we wanted to and show a £10m loss for you to get excited about, ut in reality it wouldn't make any difference at all to the underlying trading performance and cash generation of the Saints.

It's a big improvement on last year and I expect we'll see further improvement for the year to October 2019.

But the Wigan accounts will be out soon so you'll be able to try to find your angle that says they are far rosier and continue your line that owning a stadium is a mugs game.

No mate. Reading your boring drivel is the real mugs game. Who cares about the benefits of owning v renting? As long as a club remains viable - whether that is due to the generosity of its owner or otherwise - that’ll do me. For you, I’m sure years of winning bugger all have been cushioned by the fact that someone - not you though - owns your stadium. Big deal.

Wigan’s accounts now online - not happy reading at all.

Interesting to read a statement that the “pioneering tour to Australia” apparently “contributed significantly to the Company’s below budget performance in the year”

I recall being shouted down when I questioned some of the claimed benefits of that farce.

WUM

I never really questioned both the Millwall and Australia ‘experiments’ at the time because if you need to generate extra revenue, you’ve got to try something, or you’ll never know.

I started to have my doubts, however, when after the blaze of publicity that both games got, there was an eery silence with regard to the pounds, shillings and pence that may have been generated from the two games.

I’m not knocking Mr Lenagan, far from it, he’s been a huge success for Wigan and it’s clear to see that he’s a forward thinker but it’s kind of ironic that the Australia game has cost us significantly rather than made us money. I’m sure the Millwall game would have done likewise.

Difficult times and not just for Wigan.

I didn’t see the sense in either at the time and I still don’t now. We took games away from our core support, taking them on the road. We should be advertising effectively everyday in and around Wigan. There’s more than enough RL fans in Wigan to fill that stadia 3/4 times over.

Tickets are affordable so we can’t blame that. It’s been poor marketing IMO. You only have to look the other end of the A49 in Warrington to see what effective marketing does for your crowds.

There really needs to be a huge effort to engage the Wigan pubic ahead of next season and our marketing needs to get back to its levels of a few years back. The likes of Hastings, G Burgess and Lam himself are engaging characters and we need to tap in to that. Things like fans forums, Q & A’s etc need to pushed. Mr Lenagan needs to start communicating more and we really need to push hard for season ticket sales. The fact that u8’s can now get a free season ticket should be huge. What young junior rugby player in this town shouldn’t have one of those? Mr Lenagan has put his money where his mouth is, so with some promotion and engagement activities, there’s no reason why there shouldn’t be a massive buzz around the place ahead of 2020.