Workington Town celebrate making a profit
Last updated at 12:34, Friday, 20 August 2010
Workington Town are cheering making a five-figure profit last year.
The club announced a profit – a rarity in the rugby league world these days – at the club’s AGM held last night at Derwent Park.
Shareholders were briefed on the latest operating results for the last financial year ended December 31, 2009 which revealed a gross profit of £35,352 for the year and an operating profit of £21,798 after administrative expenses.
This represents a significant turnaround on 2008’s results where, despite an operating profit of £10,299, a loss of £39,419 had been incurred due to unbudgeted legal and stadium costs.
Town chairman Dave Bowden said: “This is the third time in recent years we have posted a positive year end profit, and in the current economic climate it has to represent something of an achievement for any business and especially one in the sporting world.”
Bowden was still cautious about the results, as he explained it was still difficult to run a tight ship.
“The result shouldn’t disguise the difficulties that our small board of directors and office staff encounter in trying to progress the club while keeping the finances in check, it’s a difficult task that we face each and every year,” he added.
Turnover for the year was some £79,164 less than the previous year with gates, bars and sponsorship all down.
“We are probably no different from many businesses who suffered in the recession and it’s not a situation that can continue if the club is to even survive, never mind progress,” said Bowden.
“During the year our financial projections highlighted the need for action and in 2009 the club directors moved quickly to cut costs significantly and to meet our budgets.”
The chairman was the first to admit that these actions affected the team on the pitch as the team finished second from bottom of the league.
“Losing the travelling players obviously affected performances and depleted the squad,” he explained.
“But if we had continued there is no doubt whatsoever we would have found ourselves in the same severe financial difficulties that have emerged and will continue to emerge with other clubs.
“It also enabled us to start the 2010 season on a more stable footing as we strive to move the club forward.
“2010 has also proved to be difficult as gates and sponsorship have reduced further and we would expect that the results will not be as positive, but nevertheless we expect the club will continue to be financially stable.”
And the club are continuing to look forward, both on and off the pitch.
He continued: “There have been some real positives off the pitch as our community work and grant funding under Marnie Jackson continues to develop and has been a real growth area.
“On the pitch Gary and Martin have begun the process of building a more competitive squad, attracting strong local talent with qualification for the play-offs looking a certainty. In 19 league games so far there have only been three matches where we didn’t win, draw or secure a bonus point.
“There is no doubt that we need to increase our income, and we have identified some realistic initiatives, steps are underway to ensure we achieve them so that we put ourselves in a good position to develop the squad further in 2011.
“If we can only increase our sponsorship and income levels I’m sure we can make a strong impression on the field next year.”
Town virtually secured a Championship One play-off place last weekend, with a bonus point against Swinton Lions.
But there is still an outside chance that the Lions could snatch the last vital slot, if they beat Gateshead by an extensive margin (well over 100 points) and Town lose at Doncaster without a bonus point.
And they will make the trip for the final league game without influential forward Jarrad Stack, who was handed a one-match ban by the RFL disciplinary committee on Tuesday night.
Stack and Hunslet hooker Chapman were both found guilty of fighting in the 71st minute of last Thursday’s televised game at the South Leeds Stadium. And they were banned for one game and handed a £50 fine apiece.
Hunslet’s Charlie Wabo was also found guilty of making dangerous contact in the 39th minute of the same match. He was also suspended for one game and given a £50 fine.
First published at 11:28, Friday, 20 August 2010
Published by http://www.newsandstar.co.uk
Have your say
wigan106 if speedwayv wernt there, there would be no town left it would of gone bust never mind made a profit open your blinkers anybody can see that
billybob are you totally stupid?
Speedway need Workington Town more than Town need speedway. As I said, if the speedway rent wasn't there I'm sure the board would reduce the players budget accordingly and therefore still make a profit, it's fairly simple. It's about time you learned to have more respect for your landlords.
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