Often Partisan

BIH Interim Accounts Released

Birmingham International Holdings have released their interim accounts for the six month period up until December 2014 to the HKSE.

The announcement confirms a loss of approx HK$9M – about £750,000 – but also confirms borrowings have cut in half, and that BIH have around HK$90million in cash in the bank.

There are other bits and pieces of interest – for example mention of HK$93,000 (about £8,000) in cash that has been allegedly misappropriated from the former BIH offices; that they are seeking legal advice over demands from Peter Pannu and Charlie Penn and are in negotiation with China Energy over their loan demand.

I will  be publishing a video tomorrow morning talking more about the accounts with a more detailed analysis.

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7 Responses to “BIH Interim Accounts Released”

  • Matthew says:

    Wow, £7.5 million in the bank! I presume that’s for BIH in total rather then just BCFC. Still nice to know there is some money floating about which can only be a positive thing in terms of the sustainability of the club? Looking forward to your video and keep up the good work

    • chris says:

      Blues had more in the bank last season
      As at 31 December 2014, the cash and bank balances of the Group amounted to approximately HK$90
      million (£7.6 mill) , representing a decrease of 37% compared to the cash and bank balances of approximately HK$143 million (£12.1 mill ) as at the last financial year end.

  • DoctorD says:

    This seemed the most interesting bit to me:

    “For the six months ended 31 December 2014, the Group recorded a consolidated turnover of
    approximately HK$144 million, representing an increase of 7.7% compared to the consolidated turnover of approximately HK$134 million in the six months ended 31 December 2013. Such increase was mainly due to the better performance of our football players in football matches during the 2014/2015 football season which drove increases in match receipts, television broadcasting and other commercial revenues.”

    Thank you Sir Gary Rowett!!!

  • Mitchell says:

    I would imagine £2m.has now come off that with EY fees. However pleasantly surprised. Good time now to reveal preferred bidders for the club. let’s keep up the heat on this.

    • BhamCityJulian says:

      That would be interesting to know of course but wholly unethical, unprofessional and a breach of trust. You wouldnt expect a Hollywood producer to reveal the names of the stars who they rejected or failed the audition for a role in a film. It’s just not cricket and a big no-no

  • chris says:

    I wonder when everyone says the accounts look far better; how is this so when these accounts include £7.3 million for 6 months in parachute payments(£5 million) and TV money (£2.3 million) and when going into this summer we will be millions worse off now as the parachute payments have finished?
    £1.7 million more in June to Dec 2014 from transfers shows to repeat this improvement we will probably have more player sales.
    Income of 12.1 million was turned into a loss by wages etc of £12.4 million, thats over 100% spent on wages which is unsustainable.
    No parachute payments means a reduction of around £8 million (£4 million over this account period) as i believe the average TV money for championship clubs is £4 million (£2 million over this account period).
    Am i wrong or missing something?

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