£2m loss in latest Fleetwood Town accounts

Andy Pilley, BES Group chairman
Andy Pilley, BES Group chairman

Fleetwood Town posted a £2m loss in its latest statement of accounts but the club is not concerned about that figure.

The accounts for Fleetwood Wanderers Limited reveal that Town lost £2,196,718 in the year ended June 30 2017, compared to the £4,475,838 profit they delivered for the previous 12 months.

However, that profit was the result of a £7,018,477 cash injection from ‘other operating income’ in 2015-16.

In the latest accounts, Town’s turnover increased to £5,321,256 from £4,309, 743.

They also saw a gross profit increase to £3,837,960 from £3,299,725 in 2016-17.

However, it is an operating loss of £2,197,245 and administrative expenses of £3924,099 that wipe out the profit to leave an overall loss of £2,196,718.

The financial statements also reveal that wages and salaries have increased from £3,907,242 to £5,301,915.

That was fuelled by an increase in numbers of playing and non-playing staff.

Playing staff increased by 15, with Town employing 66 in 2016-17 compared to 51 in 2016-17.

But the bigger staffing increase was off the field, with the number of employees grown from 66-98.

That meant an overall increase in staffing from 117 to 164 at the club, that can boast a Premier League-standard training complex at Poolfoot Farm

A club spokesman said: “The recent financial figures are not a concern for the club.

“The football club has invested heavily in the infrastructure in terms of staffing, wages and facilities at Highbury and Poolfoot Farm, as it continues to be to a dynamic, forward-thinking football club.”

In his review of the year’s business, chairman and director Andy Pilley wrote: “This year was the club’s third year in the Sky Bet League One. the third tier of professional football.

“At the beginning of the season the club parted ways with manager Steven Pressley and replaced him with Uwe Rosler, who not only consolidated the club’s position in League One but also steered the club into the league play-offs.

“Unfortunately the club were eliminated in the semi-finals by Bradford City.”

As for the uncertainties surrounding the business, Pilley wrote: “The principal risk to the business is poor onfield performance which could result in relegation that would potentially damage the income levels.

“Management are aware of this and are working towards a restructuring of the business model to mitigate such risk.”

That risk of relegation is one Town have faced this season, though it has almost certainly been avoided since John Sheridan replaced Rosler in February and won six of his first 10 games at the helm, losing only one.