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Club Records 15th Consecutive Annual Trading Profit, But Chairman Warns of Hard Times Ahead

In a statement the club confirms it achieved a pre-tax profit for the fifteenth consecutive financial year.
The financial statement reveals a trading profit for the year ending May 31st, 2020 of £25,000, which is up by £6,000 when compared to the previous financial year.

As of 31st May, 2020 Walsall FC employed a total of 137 people, up from the 131 the previous year, with 89 of them being part of the club's playing and coaching staff, which sees the club spending £3,162,000 on wages, down from the £3,650,000 declared during the previous twelve months.

Annual rent of Banks's Stadium, the club's Essington Training Ground, the overflow car park, and machinery has risen to £478,000 when compared to £459,000 in 2019, while overall debt has decreased year-on-year. At the balance sheet date, £1,180,000 (2019 - £1,212,882) was owed to club directors.

In a statement, released via the club's official website - Saddlers.co.uk - Chairman Leigh Pomlett hailed the latest results before warning of tougher times ahead, 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 2020.

"As I write this statement the country remains deep within the grips of the Coronavirus Pandemic.

"Of course, the difficulties we have faced as a Club pale into insignificance when set against the backdrop of this global catastrophe, and my thoughts and well wishes go out to all those who have lost loved ones or suffered hardship of any kind at the hands of this cruel Pandemic.

"Everyone has been affected and it is times like these that really put everything else into perspective.

"As a consequence, the release of the result for the year has been unavoidably delayed due to the logistical difficulties created directly by the Pandemic.

"However, I am now in a position to announce a profit for the year of £25,000 (£19,000 – 2019).

"Within this, it is important to note that the Pandemic has impacted the reporting year during the period from the first Lockdown in March 2020 to May 2020 inclusive. 

"Sadly, the effects of Coronavirus have extended far beyond 31 May 2020 and will be profound in future years to come.

"This result for the year has only been possible as a result of many people deciding to donate season ticket revenue, ticket revenue and commercial spend to the Club at a time when we were unable to deliver matches and commercial itinerary.

"This groundswell of support and clear love for the Club is truly humbling and for this, I will be ever grateful.

"On the pitch, it seems a lifetime ago now, you will recall the 2019-2020 Season was temporarily suspended in March 2020 and subsequently curtailed with the Team finishing in 12th place on an average-points per game basis, an encouraging top-half finish following relegation at the end of the previous season.

"Something to build on but we all understand there is still much work to do as the 2020-2021 Season has demonstrated thus far.

"My ambition and that of the Club remains undiminished. We still strive for a return to the Championship in short order but fully appreciate a return to League One at the earliest opportunity remains our absolute priority.

"Similarly, I can report that the project to reunite the Club with its Freehold continues in earnest.

"I have to admit though, that the timescale to achieve both of these goals may have to be extended by a year or so as a direct result of the untimely intervention of the Pandemic.

"Off the pitch, the support we have received this year from all of our Commercial Partners and Sponsors has been amazing.

"This year, more than any other before has demonstrated that we simply could not operate without them and I would like to offer my personal thanks to all of those organisations and individuals who have supported, and continue to support, the Club over the season. Their contribution has been immeasurable.

"In particular, I would like to thank HomeServe, Marstons, St. Francis Group, Poundland, Dains LLP, the Walsall FC Community Programme, the University of Wolverhampton, Tile Choice, SPV Group, Excel Print, Barclays Bank, Third Space Outdoor, Leamore Windows, Guardian Support, Made in the Midlands, LNP Sound, RayGray Snacks and Bailey & Mackey Ltd for their ongoing support.

"I would also like to pay tribute to the Community Team for their dedication and excellence in the continued delivery of services within the local community, touching the hearts and minds of tens of thousands of people across the Borough as well as extending my gratitude to my fellow Directors and the Staff here at the Banks’s Stadium for their unwavering support during these difficult and unprecedented times.

"Finally, and most importantly, on behalf of everyone at Walsall Football Club, I would like to say a huge thank you to the Supporters who have stuck with us through thick and thin at a time when many have faced their own struggles throughout this horrific Pandemic.

"It has been a tough season, both on and off the pitch, but I would like to assure you all we continue to work extremely hard to give you a team and Club to be proud of.

"The Annual General Meeting for Shareholders will take place in the 1888 Lounge at the Banks’s Stadium at 13:00pm on Monday, 24th May 2021."
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