RANGERS' pre-tax losses have more than doubled for a second consecutive year to £14.3million.

However, chairman Dave King has insisted there are no questions being asked about the club's financial strength.

The board say the latest forecasts indicate at least £4.6m was required for the rest of this season and a further £3m was needed for 2019/20.

Last year losses for Rangers International Football Club plc stood at £6.8 million, with Mr King's family trust agreeing to cover a projected £7.2m shortfall over two years.

The sums are over and above the funds raised by September's £12m share issue, with the final figure dependant on on-field performance.

The board said Mr King's New Oasis Asset Limited would provide additional loans as necessary.

RIFC said:"The board is satisfied that those parties will provide financial support to the group as it is required and have satisfied themselves as to the validity of undertakings given and that those parties have the means and authority to provide such funding as and when it is required.

"The board acknowledge that had these assurances not been secured then a material uncertainty would exist which may cast doubt over the group’s ability to continue as a going concern and therefore its ability to realise its assets and discharge its liabilities in the normal course of business.

"It is important to stress that with the appropriate assurances obtained and the continued support of the investors, the board believe that such uncertainty has been removed, and the Company is therefore able to trade as a going concern and discharge its liabilities in the normal course of business."

However, the independent auditor from Campbell Dallas accepted a failure to secure the additional funds would result "in the existence of a material uncertainty which may cast significant doubt as to the group's ability to continue as a going concern".

The losses in the annual report for the year to June 30, 2018, have come as turnover rose from £29.2m to £32.6m and operating expenses rose from £31.3m to £38.9m.

Mr King said: “Figures can be reviewed in various ways but the underlying and strong message is that Rangers, as a football club and business, continues to move forward.

"It will always be a challenge to meet the demands and expectations of a wonderful support and that is why we continue to invest massively in our infrastructure, team and staff."

He added it was important to highlight that the last financial year "saw us normalise our financial affairs to the extent we no longer face questions about our financial strength when dealing with suppliers, other clubs and financial institutions".