Aberdeen FC Announces Annual Loss
Aberdeen Football Club plc has posted a £600k loss but a £400k increase in turnover in a surprising annual report.
The results represent the period July 2010 to June 2011, which means they include the hefty compensation package dished out to failed manager Mark McGhee but not that received for forward Chris Maguire.
This means that the figures can be thought of as near break-even - a result that bucks the industry trend to a degree and is surprising given Aberdeen's poor league showing in that time and the related collapse in attendance figures.
The overall turnover rose from £7.053 million to £7.462 million mainly as a result of two cup semi-final appearances last season.
And the crucial overall wages-to-turnover figure after adjustments came in at the industry-recommended level of 60 percent.
Pittodrie Chief Executive Duncan Fraser said: "Events over the last twelve months have reinforced the view that the economic conditions facing Scottish football remain extremely challenging.
"While the new television deal will offer a degree of stability, it is imperative that a clear strategic vision for the professional game in Scotland is delivered in the coming period.
"The Club has further supported the first team this season at a time when others are cutting back in a bid to bring about the consistency in performance that is required as we enter a period of major change at the Club.
"We continue however to fully support our youth development operations as this area is pivotal to the Club's future."
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