Wednesday, 4 December 2019

 

Walsall Announce Fourteenth Consecutive Annual Trading Profit

2:00 pm Wednesday, 4 December 2019
A statement released by Walsall Football Club confirms that the club has achieved a pre-tax profit for the financial year, making it the fourteenth consecutive year without making a loss.
The financial statement reveals a trading profit for the year ended May 31, 2019 of £19,000, up by £10,000 when compared to the previous year, with borrowings reduced significantly by £239,000 during the financial year.

The report also revealed that matchday receipts are up by around £145,000 to £1,236,000 when compared to the £1,091,000 the club achieved in 2018.

Annual rent of Banks's Stadium, the club's Essington Training Ground, overflow car park and machinery has rose by £10,000 to £459,000, while overall debt has decreased year-on-year. At the balance sheet date £1,212,882 (2018 - £1,339,165) was owed to club directors

As of 31st May 2019 Walsall FC employed a total of 131 people, down from 136 the previous year, with 86 of them being part of the club's playing and coaching staff, which sees the club spending £3,650,000 on wages, up from the £3,113,000 declared during the previous financial year.

In a statement, released via the club's official website - Saddlers.co.uk - Chairman Leigh Pomlett hailed the latest results, he said; "On behalf of the Board of Directors I am pleased to present the Annual Report and Accounts for the year ended 31 May 2019.

"The result for the year is a trading profit of £19,000 (2018 - £9,000). In addition to this I can confirm that the Club’s borrowings reduced by a further £239,000 during the year."

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