Don’t let the facts spoil a good news story .

That is the point though Scarlet. The board sold players when other teams did not and saved on salary expenses that other teams did not.

What other than reduction in overheads do you think contribute to the profit. That's how a good business is run.
Clearly we are not getting big crowds so there is no massive increase in revenue so reduction in overheads is exactly how to make a profit.

Saying that, the sponsorship deals that are coming through seem to be better in both volume and quality, though I don't know the value of the deals. That could be the increased revenue for the coming year you are looking for.

Excellent job by the board, to cope with the financial situation they were left with is nothing short of brilliant. The staggering figure to me is the £ 1,920,365.00 deficit run up by the previous directors of Spirit of 1873 ltd.
Am I correct in thinking that Glover and his team were in charge for 18 months, if so they were racking up a loss of approx £1.5 million per year which would suugest that they must have had some sort of affiliation to the previous Labour Govt as they are the only other group of people who they can match for financial incompetence.

Balderdash!

This Conservative Government has managed to push 60% of its population into abject poverty while still increasing borrowing by 40% and widening the defecit of Trillions even further.

Back to the Rugby. . .

Yes, back to rugby. Let's not derail this thread.

Glover was in charge 2 and a half years. On the subject of him as much as he got wrong whilst running the club at least he walked away from the 800k he was owed. He had the power to take the club down if he wanted so thankfully he has a conscious.

It's a major step in the right direction for sure although i imagine the selling of players and culling of staff and costs contributed greatly to that profit. The key now is how it progresses over the next couple of accounting periods and i have no doubt that MC will be able to run a tight ship. Whether that is by just lowering the historic debt and just breaking even rather than making a profit so be it, from where we were its a god send.

The cutting of overheads is a finite solution. We were lucky that we had resources that we could liquidate whilst reducing the salaries at the same time. I hope you don't think this is the only way to make a profit because it is the easiest but only in the short term.
The way to ensure longevity it to make sure your income exceeds your expenditure which can be tricky.
I hope they can but I am not going to be swinging from the light fittings just yet let's see what the figures are this time next year. I said it was good news and yes a gamble but we stayed in SL so it worked.
I would point out that the reduction in staffing levels is a well tried process just ask the current government who appear masters at the process.
Now back to rugby but I just could not let the earlier comment go without a response.

You are not exactly teaching us brain science with that statement.
But there are two sides to a P&L and a good business concentrates as much at being efficient on the expenditure as it does on raising revenue.
Many companies go to the wall trying to get as much revenue as they can, only to find there was a limit in the market and they over spent to get there. We are a good example of that.

I've not got the PhD that you obviously have but to my reckoning about half of the figure was generated through player sales, if not a little less.
The rest was saved on contracts and staff cutting, which indicated that we were paying over the odds and we had too many staff for the commercial opportunities that were available to us as PopTart has pointed out.
So by this reckoning and all thing being equal, we should post a profit, albeit a smaller one next year.
But what do I know with my positive slant on things!

Let's not forget that attendances and season ticket sales were well below the previous year and probably worse than MC & CB had anticipated. Next to that would be the match day revenues being much lower due to the low attendance figures. I suspect the loss of revenue was possibly more than the saving made on wage reduction.

I don't have to wait another 12 months to see what a fantastic result this is for Wakefield!

Low attendance and match day revenue wouldn't have affected these results as all bar the Cas game on the last day of the season were still on Glovers watch. And given the season tickets went on sale at the early bird price nearly 2 months before the previous incumbents left then i'm pretty sure that he knew how many had been sold and the likelihood of selling more after that point.

Fully agree with this

Glover & Elston Vs Blair & Brown

If you have a boom and bust ethos you will always get the same result

MC and co are like Cameron and co, Picking up the pieces of the previous regime

Well done MC!

Who wants to talk about a bit of good news regarding the club, when we've got an interesting alternative in politics

I said it was good news but with a caution. I notice MC has not been on here since the story broke so even he may feel it should have been expected with the cost cutting programme they implemented. A reduction is good news and I am more than happy to recognise the fact.
With regards the politics that is down to others however I cannot in all honesty allow a Tory love in to go without comment. I am happy to leave it but if others continue with these type of statements I reserve the right to reply because the last I heard they had not cancelled free thought despite their best efforts.