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Unread 08-10-2010, 07:50 AM
ScholesScoresGoals2
 
Default Accounts out at 11am

Oliver Kay is reporting operating profit over £100m but a HUGE pre tax loss.

Interest bill over £40m again, no clue yet as to whether the Glazers have paid themselves a £70m dividend.
 
Unread 08-10-2010, 07:52 AM
Cream
 
Default

yes, 100 mill being a united record!

the stretford end salutes you, uncle Malc.
 
Unread 08-10-2010, 07:53 AM
Sloane
 
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doubt they will have taken it before end of june. still interest payments and the expense of changing over to the bond will have hit badly
 
Unread 08-10-2010, 07:55 AM
Albert Tatlock
 
Default

So we made a record operating profit, but still made a huge loss...

Got to hand it to the Americans, they really understand business. Gordon Gekko would be smiling
 
Unread 08-10-2010, 07:59 AM
Cream
 
Default

Quote:
Originally Posted by Albert Tatlock
So we made a record operating profit, but still made a huge loss...

Got to hand it to the Americans, they really understand business. Gordon Gekko would be smiling
Food for thought.
































I'm just £#%&!in with you!

Shit.
 
Unread 08-10-2010, 08:04 AM
SilverSurfer
 
Default

Quote:
Originally Posted by Albert Tatlock
So we made a record operating profit, but still made a huge loss...

Got to hand it to the Americans, they really understand business. Gordon Gekko would be smiling
We'll have to wait and see what the figures say but you've got to bear in mind the tax position. Here in the UK you can get tax relief by offsetting losses in one area from profits in another. It's a fairly standard way in private equity and the trading operations in many banks to legally avoid paying more tax, although they don't like to shout about it.

If you're a matchgoing United fan living in the UK, it does mean you get shafted in the arse twice over though. First through higher ticker prices, second when corporations avoid paying their fair share of tax, meaning you the citizen makes up the shortfall.
 
Unread 08-10-2010, 08:15 AM
borsuk
 
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a lot will depend on the nature of the losses. if, once one-off paper losses caused by currency fluctuation are stripped out, the record operating profit does not cover the debt servicing then they're in trouble and might consider selling with the right offer. if they are able to service the debt and draw out money to pay down the pik loans then they will be quite happy and selling will not be an option they'll consider.
 
Unread 08-10-2010, 08:21 AM
Sloane
 
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with a net transfer spend of 17million supposedly
 
Unread 08-10-2010, 08:23 AM
Child of Darkness
 
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so basically but for the debt , utd could afford to make match tickets virtually free
 
Unread 08-10-2010, 08:23 AM
Albert Tatlock
 
Default

Quote:
Originally Posted by SilverSurfer
We'll have to wait and see what the figures say but you've got to bear in mind the tax position. Here in the UK you can get tax relief by offsetting losses in one area from profits in another. It's a fairly standard way in private equity and the trading operations in many banks to legally avoid paying more tax, although they don't like to shout about it.

If you're a matchgoing United fan living in the UK, it does mean you get shafted in the arse twice over though. First through higher ticker prices, second when corporations avoid paying their fair share of tax, meaning you the citizen makes up the shortfall.
So they've engineered a loss simply to avoid paying taxes ?

Question : Can they use United operating revenues in their other businesses, e.g. those shopping malls that are in financial trouble in the ?US ?
 
Unread 08-10-2010, 08:24 AM
Albert Tatlock
 
Default

Quote:
Originally Posted by Sloane
with a net transfer spend of 17million supposedly
As much as that... ? ffs wheres the value ?
 
Unread 08-10-2010, 08:27 AM
The Watcher
 
Angry

Quote:
Originally Posted by Sloane
doubt they will have taken it before end of june. still interest payments and the expense of changing over to the bond will have hit badly
Yea, I’m sure they have taken a huge dividend to pay down the PIKs (and fund their lifestyle), but almost certainly after June so as to avoid mentioning it in these results.

I expect that lying smug @#%&! Gill will be all over SSN today boasting about how well we’re doing and calling the fans £#%&!ers. That is his job after all.
 
Unread 08-10-2010, 08:32 AM
Sloane
 
Default

Quote:
Originally Posted by The Watcher
Yea, I’m sure they have taken a huge dividend to pay down the PIKs (and fund their lifestyle), but almost certainly after June so as to avoid mentioning it in these results.

I expect that lying smug @#%&! Gill will be all over SSN today boasting about how well we’re doing and calling the fans £#%&!ers. That is his job after all.
course he will. looking after himself like any CEO with no share in the business
 
Unread 08-10-2010, 08:35 AM
ScholesScoresGoals2
 
Default

Reported to be a £60m loss
 
Unread 08-10-2010, 08:40 AM
Withers
 
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Can't see it unless I am being thick.

The interest is only £40-45 million.
 
Unread 08-10-2010, 08:40 AM
SilverSurfer
 
Default

Quote:
Originally Posted by Albert Tatlock
So they've engineered a loss simply to avoid paying taxes ?

Question : Can they use United operating revenues in their other businesses, e.g. those shopping malls that are in financial trouble in the ?US ?
To some extent, it's an artificially engineered loss, yes. Sadly have to go into a meeting now or would explain more. Later maybe.
 
Unread 08-10-2010, 08:41 AM
The Watcher
 
Default

Quote:
Originally Posted by ScholesScoresGoals2
Reported to be a £60m loss
“There’s no point protesting”

There should be £#%&!ing riots before Spurs game, never mind protests.
 
Unread 08-10-2010, 08:53 AM
Cream
 
Default

Quote:
Originally Posted by Child of Darkness
so basically but for the debt , utd could afford to make match tickets virtually free
let us take a moment to remind ourselves that they increased the ST prices to reach this fine loss.

(moment).

say what you like about the glazers, they certainly are a talking point.
 
Unread 08-10-2010, 08:57 AM
andyroo
 
Default

Quote:
Originally Posted by The Watcher
“There’s no point protesting”

There should be £#%&!ing riots before Spurs game, never mind protests.
This.

Anyone who's still going, hold up a copy of the accounts at every £#%&!ing match and sing for ninety minutes "where's the money gone?"

Gouging @#%&!s.
 
Unread 08-10-2010, 09:00 AM
hopkins
 
Default

Quote:
Originally Posted by reem
let us take a moment to remind ourselves that they increased the ST prices to reach this fine loss.
and eradicated the infamous waiting list along the way
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