60s 70s Spireite, on 21 October 2015 - 05:37 AM, said:
Does 40 years as a fully qualified one not count in my case? (Although I do prefer to keep it quiet, you would wouldn't you?)
And you are wrong. If the lenders of the £8M debt were a commercial lender, they would want a debt to profit ratio of around six times. In other words an annual regular profit of £1M per annum. A profit to debt ratio of 100 is a mere drop in the ocean, totally unsustainable in the commercial world.
All this in a year when we sold players to the tune of over £1M.
Yes it does and it's good to know that you post from an informed position. I've run my own company for over 20 years but I wouldn't express a view on accounts that I've not seen, as some contributors appear prepared to do. My post was more an invite to draw Walton into the fray, as you might have guessed, but I only provoked Goku, which was perhaps predictable. Just an observation, rather than a criticism, however. We are not dealing with a strictly commercial debt here, otherwise, as is the case with many football clubs, it is unlikely that we would still be trading. I hold no brief for DA, but my understanding is that what you say is something that he has repeatedly emphasised. Don't hide your light under a bushel!
This post has been edited by plannerj: 21 October 2015 - 07:13 AM