Rangers Announce £13m Profit
18 Feb 2010 | sigadmin
Scottish Premier League club Rangers have announced half-year profits of more than £13m.
The club’s turnover for the six months to December 2009 rose by £17.7m to £37.8m.
The profits are mainly due to Champions League involvement and a reduced wage bill for players.
It’s a huge improvement from the same period of 2008 when Rangers made a loss of £3.9m.
Net operating costs decreased by £3.6m to £21m, reflecting the savings made by internal cost cutting including the players’ salaries.
However, the club’s debt still stands at £31m and chairman of the Ibrox club Alastair Johnston has warned that the ‘future outlook remains fraught with challenges.’
