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 out to improve Hillsborough form (Wednesday October 22 2014)
Gray pleased with Brentford point (Wednesday October 22 2014)
Milanič: Derby days are special matches (Friday October 3 2014)
Loovens: Job to be done at Elland Road (Friday October 3 2014)
Owls youngster makes England U20 squad (Thursday October 2 2014)
Hutchinson in-line for Owls return at Ipswich (Sunday September 28 2014)
Gray hopeful over Lees injury setback (Sunday September 28 2014)
Report: Cardiff 2-1 Wednesday (Sunday September 28 2014)
Gray: Owls will bounce back from cup woe (Thursday September 25 2014)
Report: City 7-0 Wednesday (Thursday September 25 2014)
|Sheff Wed||0||-||0||Derby County|
|Leeds Utd||1||-||1||Sheff Wed|
|13. Sheff Wed||13||4||6||3||0||18|
|15. Leeds Utd||13||4||4||5||-3||16|
|Grant Holt To Stay At Hudderfield For Rest Of Year
» Wigan : 25/10/2014 00:15:00
|Early Team News - Derby v Latics
» Wigan : 25/10/2014 00:03:00
|What The Bosses Say - Derby v Latics
» Wigan : 24/10/2014 23:39:00
|Millers v Seagulls Preview
» Rotherham : 24/10/2014 20:05:00
|LUFC Leeds v Wolves - Over The Years
» Leeds Utd : 24/10/2014 20:00:00