Rangers announce healthy accounts as club finally posts a profit of £5.9m and revenue nearly doubles to £87m
dailyrecord.co.ukRangers have announced an operating profit of £5.9million – a significant improvement on last year's £23.5m operating loss. The Ibrox side lost substantially in the accounts released 12 months ago with the effects of Covid having a huge impact on Scottish football but the figures look much healthier despite Rangers relinquishing their title.
Their revenue has almost doubled to £86.8million in the 12 months since the appointment of Gio van Bronckhorst, in which they reached the Europa League final in Seville and also sold Nathan Patterson in January for an initial £11.5m and Calvin Bassey for an initial £19.5m - both club record sales at the time they went through.
That transfer revenue has helped the club overturn last year's substantial operating loss and turn a modest profit for the year to 30 June 2022, with their Champions League TV and prize money revenue not factoring in until next year's accounts.
Chairman Douglas Park said: "I am delighted to be reporting a club record turnover of £86.8m for the year to 30 June 2022."From this revenue, we returned an operating profit of £5.9m which represents an improvement of £27.6m on last year’s operating loss.
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