Rangers International Football Club posts small six-month profit

Rangers FC
Rangers' revenues have been boosted by improved ticket sales, playing in the Premiership and by better sponsorship deals

Rangers International Football Club has announced an operating profit of £300,000 in its unaudited results for the six months to 31 December 2016.

This compares favourably to a loss of £500,000 in the same period in 2015.

However, the pre-tax loss at Ibrox comes in at £278,000; down from the £333,000 from 12 months ago.

The main reason for this is "other charges" of £450,000 amid its costs, along with losses on "fixed assets" and "player registrations".

Revenue increased by £5.3m year on year to reach £16.3m thanks to bigger attendances, greater income from playing top-tier football and greater sponsorship and commercial income.

But operating expenses rose too, by £4.1m to £15.5m.

RIFC says additional funds are available if required by the club "during the current rebuilding phase".

But it intimates that no further investment in anticipated in the financial year ending in June, owing to the team's performances in the Scottish Premiership and the progression to the Scottish Cup semi-finals.

A statement on the Rangers website reads: "The club is well on its way to achieving a sustainable business model while continuing to invest in infrastructure and the player squad."

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