Rangers are to launch a new share issue to raise funds after they revealed losses of £8.3m in the period to 30th June. This was a substantial improvement on the £14.4m loss reported in the previous year. However, they will need the first tranche of money in January to continue trading.
Rangers are to launch a new share issue to raise funds after they revealed losses of £8.3m in the period to 30th June. This was a substantial improvement on the £14.4m loss reported in the previous year. However, they will need the first tranche of money in January to continue trading.
Revenue was up 32 per cent to £25.5m. Staff costs were down from £17.9m to £14.9m. This represents 58 per cent of turnover which compares favourably with some other clubs. Directors renumeration amounted to £786,981.