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Clyde Records Profit for Fifth Year

Mon, 23rd Dec 2013 6:46pm

Following the recent AGM of the club, finance director David Dishon spoke to the official website with a summary of the financial position that was reported at the meeting.

"The club made an operational profit of £80k for the year ended 30 June 2013," David said. "This profit - primarily required to meet the scheduled payments of £54k towards historic debt - was delivered through tight financial control on costs and better matchday revenue."

This is the fifth year in succession that Clyde FC, Scotland's first senior club to be wholly supporter owned, has made a profit. This has been used to reduce the debt levels from £501k in December 2007 to £53k at present. 

David confirmed that the club are on course to become debt free by November 2014:-

"We have robust business plans to deliver another profit this season and next year too. This would not have been possible without the supporters, who are continuing to give so generously via the budget development fund in order for us to achieve this major milestone by November. In the midst of a downturn that has been an exceptional effort, especially as generating income within our current ground rental arrangements is extremely difficult. The hard work continues but the end is in sight."

David concluded, "Any small cash surplus, after accounting for the debt payments, has assisted in giving the club some much needed stability and continuity on the football side. That is another positive as we build the club up again."