Hibs post profit of 7.4m in financial statement for July 31st 2007

Last updated : 11 September 2007 By Steve Forbes
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Hibs have today published their end of year financial results and have for the third year running posted a profit, this time it's massive!!

+ Turnover for the year was £9.8m (2005/06 = £8.7m) UP 13%!!

+ Operating profit was £1.4m (2005/06 = £1.2m)

+ Transfer income was £6.4m (2005/06 = £1.2m)

+ Profit for the year was £7.4m!!! (2005/06 = £2.2m)

+ Average attendance was 14,500 (2005/06 = 13,800) an increase of 700 UP 5%

+ Season ticket holders = 10,500 (2005/06 = 9,500) UP 11%

+ Staff costs were £4.1m (2005/06 = £3.7m) an increase of £400,000 UP 10%

+ Staff costs to turnover ratio was 41% (2005/06 42%) DOWN 1%

+ Spending on transfers was: £900,000 (2005/06 = £300,000)

+ Net assets at 31st July 2007 were £12.4m!! (2006 = £4.8m) UP £7.6m!

+ The Leith San Siro valued at £15.2m (2006 = £15m)

+ Fixed assets £2.1m (2006 = £0) another £2.1m is set aside. (TRAINING CENTRE - total cost £4.2m)

+ Net debt £2.8m (2006 = £6.8m)

New training facility on the way and the debt rapidly disappearing, fantastic news for the club. Also good to see the club splashing a little cash on transfer fees and upping the wage structure a little.

Also with rumours of a new East Stand in the pipeline, things at Easter Road look rosy.


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