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Annual Accounts - Expert's Review


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Rovers made an operating profit of £1m compared to a loss of £1.4m in 2003/4, before the player trading was taken into account.

The publication of Rovers’ results has been a muted affair compared with Chelsea announcing a £140m loss. Abramovich has now publicly declared losses of £270m in addition to the reported £130m all up cost of buying Chelsea- still £100m less than the reported development value of the Stamford Bridge!

To the Rovers and my immediate reaction to this year’s accounts is that there are no big surprises- the numbers are what I suggested they would be a year ago. However, on closer examination there are lots of very pleasant little surprises all over the place which is a sign of an extremely well managed operation.

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