Iron lost half a million last season

12 November 2010 04:19
Scunthorpe United have announced a loss of £480,914 for last season, with record turnover matched by the club's highest-ever wage bill. That loss does not take into account the money received for Gary Hooper, whose transfer to Celtic took place after this accounting period and will be included in next year's figure. It also includes a one-off £300,000 spend to purchase land next to Glanford Park, which is being used by the Iron's football in the community scheme and may be used for future development. "The loss of £480,000 was slightly less than we had budgeted and follows a loss of over £1million in the previous year. We did however anticipate the sale of Gary Hooper post year end and there is no undue concern at the £1.5m loss over the two year period," said Steve Wharton, the Iron chairman, in his annual report to shareholders which accompanied the accounts.  "To all our fans, a very big thank you for your continued support throughout a very difficult and demanding season." Turnover increased to £6,578,981 - with this improvement thanks largely to higher central payments from being in the Championship. The wage bill also increased, with staff costs - which includes players, all backroom and office staff - going up to £5,097,497. This year's annual general meeting will take place at Glanford Park on December 13, starting at 7pm.