Leaders
Dallmeier

Business Directory

Browse the Directory

Sign Up to the Directory

FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

Portsmouth announce operating profit

Tue 31st Mar 2015 | Money & Finance

Portsmouth Community Football Club today announced an operating profit of £118,000 in its first full year of trading.

The accounts for the year ending June 2014 show a turnover of £6.6 million, with gate receipts of £3.4 million.

There was an overall loss of £171,000 for the year, after including the net interest charges of the loans taken out to purchase the club back in April 2013. 

Click here to see the full financial statement.

The financial result is set against the backdrop of the club emerging from administration with no training ground, kit deal or commercial agreements, with the task of rebuilding trust and confidence from our suppliers and stakeholders.

Finance director Tony Brown said: “We are all pleased with the results from our first year of trading and it has been a real team effort from everybody at Fratton Park.

“We undertook a substantial restructuring of internal operations, as well as managing the £14m legacy debt, which was reduced to £5m at the year-end and then fully repaid in September 2014 – two years ahead of schedule – and we negotiated significant discounts.

“The rebuilding process has continued this year, with the building of a new training ground, the Tesco project and improvements to the stadium, with the aim of securing solid foundations to enable the sustainable growth of the club.”

Chief executive Mark Catlin added: “These set of accounts give us a fantastic base on which to build on.

“The financial figures for the year were significantly better than what we budgeted for and that is down to the hard work of the chairman, directors and all our staff.”

Image: Action Images / Adam Holt

Posted by: Kev Howland

RETURN TO LATEST NEWS SECTION

SUBSCRIBE TO THE FCBUSINESS RSS FEED

If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk

To subscribe to our range of football newsletters including news, products and jobs CLICK HERE.

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

How Football Clubs Source Their Revenue

Thu 22nd Jun 2017 | Money & Finance

It will come as a surprise to no one that football is big business these days. Although players’ wages – especially at the top teams – have increased remarkably, the clubs can pay...

“Why Does Your Club Offer Discounts?” 5 Responses

Tue 6th Jun 2017 | Money & Finance

Following my article last week on the 3 observations about discounts offered on football clubs’ merchandise stores ; I wanted to share some more insight in to the merchandise space. I’ve...

West Ham United announce record season ticket renewals

Thu 1st Jun 2017 | Money & Finance

West Ham United have announced a club record number of season ticket renewals for the 2017/18 Premier League campaign. At Wednesday's 5pm deadline, over 90% of the 52,000 season ticket holders at...

Footballers, their cars, and how many minutes of play it takes to pay for them

Thu 1st Jun 2017 | Money & Finance

Online used car dealership Carspring have researched the vehicles driven by more than 250 of the world’s leading football players. With this information, along with the estimated salaries of...