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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
1 Bolton 5 4 1 0 13 4
2 Bradford 5 3 2 0 11 4
3 Scunthorpe 5 3 1 1 10 6
4 Port Vale 5 3 1 1 10 4
5 Millwall 5 3 1 1 10 2
6 Gillingham 5 3 1 1 10 -1
7 Peterborough 5 3 0 2 9 5
8 Fleetwood 5 2 2 1 8 3
9 Charlton 5 2 2 1 8 2
10 Chesterfield 5 2 1 2 7 1
11 Swindon 4 2 1 1 7 0
12 MK Dons 5 2 1 2 7 -1
13 Oldham 5 1 3 1 6 -2
14 Bury 5 1 2 2 5 0
15 Northampton 5 0 5 0 5 0
16 Walsall 5 1 2 2 5 -1
17 Bristol Rovers 4 1 1 2 4 -2
18 Oxford 5 1 1 3 4 -3
19 Southend 5 1 1 3 4 -3
20 Sheff Utd 5 1 1 3 4 -4
21 Shrewsbury 5 1 1 3 4 -4
22 Coventry 5 0 3 2 3 -3
23 Rochdale 5 0 2 3 2 -3
24 Wimbledon 5 0 2 3 2 -4
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