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Chairman sends warning despite United profit

09 Mar 2011 15:00:11

Chairman sends warning despite United profit

Dundee United reported a net profit of £66,000 last season after winning the Scottish Cup and finishing third in the Clydesdale Bank Premier League but chairman Stephen Thompson warned of lean times ahead after announcing the club's financial figures.Annual accounts for the period up to June 2010 revealed an £203,000 improved net profit to £66,000, with turnover at £6.052 million, an increase of £260,000 over the prior year and a £2.24m increase over 2004.Bank borrowing remained consistent with the previous year with the balance of the term loan remaining at £5.4m, while directors' loans for the year increased by £300,000 to £435,000.Chairman Thompson said: "In extremely difficult financial times for Scottish football as a whole, it is pleasing to see the club return a small profit for the year."It should be stated, however, in a season in which we won the Scottish Cup and finished third in the league, this modest profit only goes to show the harsh realities of the current financial climate within Scottish football.


PA

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