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Record loss for Scunthorpe

Record loss for Scunthorpe

Scunthorpe have revealed record losses of almost £2m for the last financial year, ending June 30th 2012.

Steve Wharton, as he told the official website, had forecast losses but they proved to be worse than he feared: 'The drop in total income which I predicted in my last year`s report at £4-million in fact became £4.5 million and we were only able to reduce our costs by circa £2-million.'

Running costs might have eased in the past year but the turnover has also dropped, with dwindling crowds doing little to help.

It goes without saying that a turnaround in financial fortunes is needed, with general manager David Beeby adding: 'Clearly this kind of loss is not sustainable. it is therefore important that the club gets back to a position where it is not running up debt.

'We were able to reduce wages from £5.5-million to £3.7-million, but when turnover`s £3.2-million, your wages shouldn`t be as high as £3.7-million.

'We have to continue to work hard to get costs down to an affordable level to ensure the club stays on a sound financial footing.'

It's been difficult times for The Iron, on and off the pitch, recently and this is likely to continue...

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Writer:Site Staff
Date:Thursday November 15 2012
Time: 2:57PM

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# Team P W D L Pts. GD
C Sheff Utd 45 29 10 6 97 44
2 Bolton 45 24 11 10 83 29
3 Fleetwood 45 23 12 10 81 21
4 Scunthorpe 45 23 10 12 79 24
5 Bradford 45 20 18 7 78 19
6 Millwall 45 19 13 13 70 8
7 Southend 45 19 12 14 69 16
8 Rochdale 45 19 11 15 68 9
9 Oxford 45 19 9 17 66 11
10 Bristol Rovers 45 18 12 15 66 -1
11 Peterborough 45 17 11 17 62 3
12 MK Dons 45 15 13 17 58 -1
13 Walsall 45 14 16 15 58 -4
14 Charlton 45 13 18 14 57 4
15 Wimbledon 45 13 17 15 56 -3
16 Northampton 45 14 10 21 52 -13
17 Oldham 45 12 16 17 52 -13
18 Shrewsbury 45 13 12 20 51 -15
19 Bury 45 13 11 21 50 -11
20 Gillingham 45 12 13 20 49 -20
21 Port Vale 45 12 12 21 48 -25
R Swindon 45 11 11 23 44 -19
R Coventry 45 9 12 24 39 -29
R Chesterfield 45 9 10 26 37 -34
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