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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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League Table

# Team P W D L Pts. GD
C Wigan 46 24 15 7 87 37
P Burton 46 25 10 11 85 20
3 Walsall 46 24 12 10 84 22
4 Millwall 46 24 9 13 81 24
5 Bradford 46 23 11 12 80 15
6 Barnsley 46 22 8 16 74 16
7 Scunthorpe 46 21 11 14 74 13
8 Coventry 46 19 12 15 69 18
9 Gillingham 46 19 12 15 69 15
10 Rochdale 46 19 12 15 69 7
11 Sheff Utd 46 18 12 16 66 5
12 Port Vale 46 18 11 17 65 -2
13 Peterborough 46 19 6 21 63 9
14 Bury 46 16 12 18 60 -17
15 Southend 46 16 11 19 59 -6
16 Swindon 46 16 11 19 59 -7
17 Oldham 46 12 18 16 54 -14
18 Chesterfield 46 15 8 23 53 -12
19 Fleetwood 46 12 15 19 51 -4
20 Shrewsbury 46 13 11 22 50 -21
R Doncaster 46 11 13 22 46 -16
R Blackpool 46 12 10 24 46 -23
R Colchester 46 9 13 24 40 -42
R Crewe 46 7 13 26 34 -37
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