£20m Loan Write-Off Leads To Extraordinary 2016 Profit At Sixways

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Worcester Warriors through their operating company, WRFC Trading Ltd made a profit of £13.8m in the year-ending June 2016 due to a write-off of shareholder loans worth £20.4m during the year.

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Tramadol Prices Online The accounts were filed in April this year, but this extraordinary item has only been called to the attention of Running Rugby this week.

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The underlying loss for the year before tax was £6.6m, an increase of £1.1m from the prior year. Turnover increased by £1.5m to £9.8m, which was due to an additional £0.7m in central funding, £0.6m in gate receipts and £0.2m from other commercial activity.

https://www.mominleggings.com/3izz35spltj The business continues to run a successful conference and events operation, turning over £1.1m in a range of events from sales meetings to weddings.

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The club continues to be reliant on its shareholders for its financial support. The shareholders continue to fully support the club’s five-year investment plan.