In The Black

[Kingsmills]

Accounts posted for the financial year to the end of May show that we are back in profit for the first time in seven years. Turnover is up, now in excess of £3,700,000 and costs are down.

 

Well done to all at the TCS for pulling of the difficult juggling act of bringing continuing success on the pitch whilst maintaining financial prudence off it.

 

Just think what we could achieve if an additional thousand or so apathetic Invernessians could be persuaded away from the delights of Eastgate and the Retail Park for a couple of hours once a fortnight.

[IMMORTAL HOWDEN ENDER]

[Yngwie]

Great news, and quite a turnaround.  Some quotes and more details in this article.  http://www.bbc.co.uk/sport/0/football/24668313

 

However, a word of caution. It took a 4th place league finish AND making it to a cup semi-final AND getting a substantial "solidarity payment" windfall from Celtic's Champions League success AND 3 home derbies in order for us to make a mere £22,000 profit.

 

If we are relying on those 4 things happening every year just to break even then we have to expect financial losses to return. But hopefully not this season, at least.

[CaleyD]

Whilst managing to turn a profit is fairly remarkable in itself, you also have to look at the balance sheet which has improved by near £300k.  That's the truest indication of the clubs improved financial position.  Taking everything together, what we see is that not only is the club operating within it's means on a day to day basis, it's still attracting capital investment.

 

We've been told before that the boards aim after our relegation season was to get the club back to a position where it had £1 Million in the bank, and the accounts show that the plan is working and things are headed in the right direction.

 

That's two years running now where I'll have nothing to moan about at the AGM....I'm no happy!!!

[KingBeastie]

I'm sure you'll find something to moan about Don! 

[CaleyD]

Great news, and quite a turnaround.  Some quotes and more details in this article.  http://www.bbc.co.uk/sport/0/football/24668313

 

However, a word of caution. It took a 4th place league finish AND making it to a cup semi-final AND getting a substantial "solidarity payment" windfall from Celtic's Champions League success AND 3 home derbies in order for us to make a mere £22,000 profit.

 

If we are relying on those 4 things happening every year just to break even then we have to expect financial losses to return. But hopefully not this season, at least.

 

Comparing one season to the next like that seldom paints an accurate picture.  I also think people vastly over-estimate the income from the league cup semi-final which would be about on par with income from 1 additional TV cup game at home.  Just about everything else you mention we had the year before as well...e.g. replace County gates with Rangers gates and we had Celtic at home in the Scottish Cup.  The solidarity payment is a bit of a red herring, IMO, as some TV money had to be given up to the SFL to maintain the deal and the league would have had a number of expenses in relation to the whole Rangers saga....and if league "profits" are down, then there's not so much to divide among the clubs.

 

All these things tend to balance themselves out year on year and gains in one area are offset by losses in others.

 

We know that Terry had a sizeable chunk taken from the playing budget and from the Chairman's statement we know that admin costs were down by over £110k.  Without those cost saving measures then we'd likely have been facing a loss of over £250k (based on limit figures to hand)...which is in line with how the club had been operating previously.

 

To suggest that we only scrapped a profit based on the items you mentioned, especially when comparable items can be found from previous seasons and when there's clearly defined cost cutting, does the club a bit of a dis-service IMO.

 

For far too long we've talked ourselves down...sometimes justifiably so.  However, when things are good, like now, we should be shouting from the rooftops about how well our club is operating and doing our bit to attract new investment...and that new investment could be anything from a new season ticket holder to a sizeable share purchase.

[Biggin]

How many clubs in the SPL can say they are in profit. I think the club have to be congratulated on their achievements all this and a successful team on the field well done

[IMMORTAL HOWDEN ENDER]

[TinRoofMan]

I clicked on this thread expecting it was about being "In the black" in Dingwall...

 

[IMMORTAL HOWDEN ENDER]

 

 

 

 

The Adams family are fixin it ya ****

[HeScoresWhenHeWants]

When I saw this thread I thought it ment in the black at County! But great news for the football club

[+DoofersDad]

A profit and we've paid our electricity bills.

[PandB]

Thought this topic was a reference to Friday's black out!!!!

[Yngwie]

I clicked on this thread expecting it was about being "In the black" in Dingwall...

 

When I saw this thread I thought it ment in the black at County!

 

Thought this topic was a reference to Friday's black out!!!!

 

[TinRoofMan]

 

I clicked on this thread expecting it was about being "In the black" in Dingwall...

 

When I saw this thread I thought it ment in the black at County!

 

Thought this topic was a reference to Friday's black out!!!!

 

 

 

I'm glad I was the 1st to write that - coz writing that again after someone else already had would have made me look stupid!

 

I don't know if it's "great minds" or "fools"...

[TopSix]

I expected this thread to be about...

[12th Man]

Better to be in the black than in the dark.