Rangers report half-year losses of £2.6 million

RANGERS have reported a reduction in losses for the first six months of its financial year.

Interim chairman Paul Murray said the recovery process 'would take time'. Picture: John Devlin

The Aim-quoted club posted a pre-tax loss of £2.7 million for the six months to the end of December, down from £3.5 million a year earlier, on revenues that were broadly flat at £13.1 million.

Season ticket sales stood at 24,589 at the end of the period, and the Glasgow club said its average home league attendance of 32,321 was the 13th highest in the UK.

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Interim chairman Paul Murray said: “The new board’s focus is on the future. We are in the process of developing a business and funding plan which will help us rebuild the club and ensure it enjoys football and commercial success in the future.

“We will work closely with our shareholders, supporters and other stakeholders to achieve our vision of building a modern football club founded on our traditional values and standards. The recovery process will take time but if we work closely together we are confident of success.”

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