The Ibrox side have generated £252k in profit while they also announced a turnover of £83.8m from the year to 30 June 2023.
Rangers have announced an operating profit as part of their financials for the year and all the details for upcoming AGM
Rangers have announced an operating profit for the second successive year as part of their club financials.
The Ibrox side have generated £252k while they also announced a turnover of £83.8m from the year to 30 June 2023. The Light Blues also detailed the notice of their next Annual General Meeting which will be held at Edmiston House on Tuesday, 5 December at 10.30am. Speaking in his annual report chairman John Bennett says while the numbers on show are encouraging, there is still lots of work to be done and the vision going forward must be sustainable success both on and off the park.
He told the official Rangers website: “The club has, for the second year in succession, returned an operating profit. Turnover for the year to 30 June 2023 was £83.8m, generating an operating profit of £252k. While successive years of operating profitability can be seen as encouraging, especially in light of what had gone before, there is still much work to be done. The club vision must be simple and clear: sustainable success. This applies both on and off the pitch and it must be a mantra by which all at the club live.
“Football is a business which is particularly prone to being reactive. While this may be inherent to the industry, sustainable success can only come when we are systematic in our processes and in our actions. It is my firm conviction that this is a pre-cursor to returning the club to the status of serial winners.
“I have talked previously of the four components of financial sustainability: season ticket sales, commercial revenue, European football and player trading. While the first of these components will never be taken for granted, it is the fourth that requires attention.
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“Player trading will always be inherently volatile, yet Rangers must replace sporadic “wins” with systematic success. It is a given that it all begins with player recruitment. This is an area of priority for your Board, and we anticipate that the coming months will see a strengthening in the leadership and processes of our football department, specifically with this in mind.”
