Guest sergi Posted January 7, 2013 Share Posted January 7, 2013 Kilmarnock post reduced profits in their annual results By John Barnes BBC Scotland Comments Kilmarnock chairman Michael Johnston pointed to success on the pitch as the club's annual results showed a reduction in profits. The club reported a trading profit of £11,384 for the year ending 31 May 2012 down £186,597 from the previous year. Despite an increase in the club's debt, Johnston praised the Scottish Communities League Cup final victory. "What a wonderful year of football we've all enjoyed since I prepared last year's chairman's statement," he said. Kilmarnock's net debt rose by £83,000 to £9.84m, while turnover for the year was £7.4m, an increase of almost £300,000 on the previous 12 months. Player and staff costs were just over £3.5m, similar to the figure spent in the last four years. An interim revaluation of the stadium found Rugby Park to be worth £11.3m. Johnston, in his statement to shareholders, also complimented manager Kenny Shiels and the players on a successful year. "Kenny's mantra in the dressing room in the build-up to the final was "believe to achieve" and it clearly struck a chord with our entire squad and backroom staff," he said. "If the year ahead holds the same level of sporting enjoyment and success, we're all in for a wonderful treat." 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,617 Posted January 7, 2013 Share Posted January 7, 2013 net debt £9.84m. At what point will this debt be called in? will never be repaid 0 Quote Link to post Share on other sites More sharing options...
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