Looking at the accounts I would say there is cause for some cautious optimism, but there are some factors which should still be considered.
Firstly, whilst covid will have significantly reduced our levels of income, it would also have resulted in our expenditure being reduced to almost zero. Staff costs would have been picked up by the government furlough scheme for large periods of 2020 and without any ground costs to factor, a loss of income have been negligible.
Another consideration will be the extent of the loan the Bulls secured from the RFL in October last year. The emergency bail-out loan that was offered by the government to the sport could be a reason why the bank balance looks healthy, especially if the club have had to use very little of it. However, we don't know the exact extent of the money borrowed so cannot really tell whether it was a good thing or not.
Overall I think its too early to say if this is the start of a period of long term stability. Being 3/4 million £ in the red is still not an idea position but then again it was never going to be solved over night.
