Let’s not underestimate the importance of the figures just released. The long term recovery of the club after the period in administration depends on income matching expenditure. In fact, a surplus of £321 000 was produced in the last season.
The figures reveal that the club’s turnover was £4.1M and that player wages amounted to a reasonable 35.5%.
Fans will have to be careful not to jump to the conclusion that there is plenty of cash available and that the manager has free rein either to increase wages or to splash out on transfers.
It is essential that we live within our means – a return to the bottom few places in the SPL at the end of the current season would result in a significant decrease in income.
Some fans have reacted with anger to the club’s efforts at maximising revenue over the last few months. Season ticket and gate prices have risen sharply, some season ticket holders were moved for the opening game against Celtic in an attempt to generate more funds (fewer than ten thousand attended) and there is a general belief that more resources and organisation are needed to bolster the struggling customer services side of the club.
Despite this, season ticket sales are reported as increasing as campaign 2005/6 gets underway. It looks as though the club is getting something right.
John Boyle issued the following statement with the release of the figures….
"The performance of the club both on the pitch and in financial terms over the last two seasons has been excellent," said owner John Boyle.
"It has required a tremendous effort from everyone at the club, but these latest results and the increase in season ticket sales show everyone's efforts have been worthwhile.
"After coming out of administration, the club required a period of careful management and stewardship and this has happened.
"Like all clubs we have to keep a strict financial discipline and, as long as this is maintained, the club will have a bright future."