Coupla points re the Deloitte figures

1) The stats are for season 06-07 i.e Worthy & Grant as managers. City's stats come from the Annual Report released last autumn.

2) Deloitte state that a 55 p.c. wages/turnover ratio is safe. Ours is above that and note: - a) when the Board quote a lower figure this is because they use PLAYING WAGES as the benchmark, thereby skewing the stats. b) Unless they really cut the wages this summer our ratio is going to rocket, as our turnover will be down by 7 mill. Also note that since 98/9 our wages/turnover ratio has only ONCE been below 60 per cent, and has been above 75 per cent on five occasions.

The profit figure is not as silly as it looks; even City's accounts admit as much. There has been much capital expenditure though, and this has made the profit seem non-existent.

Posted By: east of hampstead, May 29, 12:18:37