Town Make A Profit

By Aston
October 26 2004

Ipswich Town football club PLC as today announced an operating profit of £1.75 million for the last financial year.

Town Make A Profit

Ipswich Town football club PLC as today announced an operating profit of £1.75 million for the last financial year.

Although the club made an operating profit it looks set to make a net loss of around £480,000 but that is still a massive improvement on the net loss last year of £7.75million, Town’s playing wage bill fell by just under £5million from £14.9 to just £9.1 other areas also improved such as non-match day income rose to £1.3 million and revenue also increased 4% to £24.4million.

Ipswich Town Chairman David Sheepshanks: “I would like to praise manager Joe Royle and chief executive Derek Bowden , Everything begins and end as far as a club’s performance on the pitch and Joe Royle has done a remarkable job to hold us in contention, despite having to part with a number of players.

“Derek has done an equally tremendous job running the business side of the club.

“I think our progress is reflected very much in our ability to turn down the bid from Charlton for Darren Bent a couple of months ago, that said our position remains constrained and we have to manage our position going forward carefully.

“Promotion back to the premier league is the true panacea in terms of restoring the club to full financial vitality.

“However, we can’t gamble on that and premiership status cannot be achieved at the risk of the club’s continued financial viability.”

Source: EADT.

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