Town boss Bowden pleased with club profit
Last updated 12:52, Friday, 05 September 2008
Workington Town have reported a healthy five-figure profit for last year.
The club were reported the profit of £12,828 at the club’s AGM last night, after making a loss of £19,823 the previous year.
But they have warned against getting carried away with the profit margin as there were some exceptional circumstances behind it, that won’t be repeated.
The club described the result as “satisfactory”.
And chairman, Dave Bowden, added: “Although it is pleasing to be able to report a profit yet again after last year’s losses, still a unique achievement in the game as a whole, the reality is that the exceptional items made the difference.
“Advertising and sponsorship have not made the further gains we require and will be an area for attention.”
An explanation of the accounts revealed some exceptional gains during 2007 as a result of increased gate receipts from the cup games at Leeds and Castleford at the beginning of 2007, and a one-off payment for the long term siting of a radio mast. Bar sales also showed a healthy increase.
The club added that 2008 is proving a tougher year financially.
“We still maintain a healthy sponsorship base but there is no doubt money is tighter for both sponsors and supporters this year and our league position has not reflected the investment in the squad,” added Bowden.
“Our injury situation has had a major impact on the field and further increased the playing costs, as a result the clubs financial position will not be quite as positive in 2008.”
The club’s financial statements reveal the club made a gross profit of £41,722 for the year with an overall operating profit of £12,828 after administrative expenses compared to a £19,823 loss the previous year. The figures revealed turnover increased by £60,527 from the previous year.
