Walsall Chairman Jeff Bonser has today released the club's annual report along with notice of the AGM, which is to be held on Monday 18th November.
Speaking via Saddlers.co.uk, Bonser confirmed the club has made an trading profit of £23,000 for the year ending 31st May 2013.
Bonser noted that along with the generally smaller budgets in the Football League, the club has also seen a 26% decline in TV revenue due to the new deal between the league and BSKYB.
He said; "I am delighted once again to be able to announce a trading profit for the year, this time of £23,000. I believe this represents a significant achievement when you consider the findings of the latest Annual Review of Football Finance Report, published by Deloitte in June 2013, which established that the average net loss for a League One club in 2011/12 was £2.4m.
"It is also worthy of note that this profit was achieved despite a fall in Central Television Revenues of 26% as a direct result of a reduction in The Football League’s new TV deal with SKY. Consequently the Club had to adjust and reduce its ‘Player Budget’ by a similar amount to compensate and this was done in a controlled and constructive manner.
"It was a significant year for the Club on-the-field as the first-team recorded their highest League finish since season 2003/04 and achieved their highest points total in League One since the League was rebranded back in 2004. Both were accomplished on the back of one of the smallest playing budgets in the division and the smallest the Club has operated with in many years."
To read the full statement, click HERE.
Bonser noted that along with the generally smaller budgets in the Football League, the club has also seen a 26% decline in TV revenue due to the new deal between the league and BSKYB.
He said; "I am delighted once again to be able to announce a trading profit for the year, this time of £23,000. I believe this represents a significant achievement when you consider the findings of the latest Annual Review of Football Finance Report, published by Deloitte in June 2013, which established that the average net loss for a League One club in 2011/12 was £2.4m.
"It is also worthy of note that this profit was achieved despite a fall in Central Television Revenues of 26% as a direct result of a reduction in The Football League’s new TV deal with SKY. Consequently the Club had to adjust and reduce its ‘Player Budget’ by a similar amount to compensate and this was done in a controlled and constructive manner.
"It was a significant year for the Club on-the-field as the first-team recorded their highest League finish since season 2003/04 and achieved their highest points total in League One since the League was rebranded back in 2004. Both were accomplished on the back of one of the smallest playing budgets in the division and the smallest the Club has operated with in many years."
To read the full statement, click HERE.