Date:Tuesday October 10 2006
The club's annual accounts for 2006 have now been published, revealing an increase in commercial revenues. This led Sheffield Wednesday to make a profit before interest and taxation last season.
The official site reveals: 'The Owls' profit before interest and tax of £389,000 compared to a loss of £1.11 million in 2005; the headline loss before transfers was £180,000, compared to that of £2.52 million the previous year. Indebtedness to the bank was reduced to £22.23 million, while directors' loan notes remained unchanged at £4.35 million.'
The results are due to the 20 per cent increase in turnover now the Owls play in the Championship: club commercial revenues are up by nearly a quarter. Match receipts rose by over 7 per cent to more than £5m.
So.. play in a more prestigious division and get more from the fans and the club is better off: perhaps no real surprise there.
More from the offcial site - 'In his annual statement to shareholders, SWFC chairman Dave Allen said: 'After some difficult years following relegation from the Premiership, at last we are on an even keel and trading successfully. The annual accounts show the excellent progress made by the company over the year to 31st May 2006. Both on and off the field of play we achieved our aims - to consolidate our place in the Championship and achieve a break-even budget.'
Mr Allen also revealed that he and finance director Bob Grierson held talks with three groups of 'would-be investors in the club' in the last financial year. But he added that no such investor is likely to develop their interest until 51 per cent of the club's shares are available to them.'
The annual report and accounts of course show (and unsurprisingly reports make comment on the fact) that Mr Allen gifted the club £69,834 during the year, this sum covering the loans of Scott Carson and Mikkel Bischoff.
So.. gently throttling back the cash available for the team improves the figures at the expense of league position? Talk about it on our forum!
Date:Tuesday October 10 2006
Owls confirm Tom Lees signing (Friday August 1 2014)
Wednesday reveal squad numbers (Friday August 1 2014)
Gray to assess Contout at Barnsley (Thursday July 31 2014)
Owls edged out by Magpies in friendly (Wednesday July 30 2014)
Lees edges closer to Owls move (Wednesday July 30 2014)
Owls hit by Lavery injury blow (Tuesday July 29 2014)
Scunthorpe close on Llera deal (Tuesday July 29 2014)
Gray to decide on Kelhar's Owls future (Monday July 28 2014)
Owls share spoils in Rovers friendly (Sunday July 27 2014)
Owls wait on Brazilian striker Brandao (Wednesday July 16 2014)
|21. Sheff Wed||0||0||0||0||0||0|
|Owls confirm Tom Lees signing
» Sheff Wed : 01/08/2014 12:28:00
|Wednesday reveal squad numbers
» Sheff Wed : 01/08/2014 12:23:00
|Confirmation Of Squad Numbers
» Bolton : 01/08/2014 11:59:00
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» Cardiff : 01/08/2014 11:12:00
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» Reading : 01/08/2014 10:00:00