Vital Football

Latest Hibs News

Hibs Post Annual Loss

Hibs Post Annual Loss

<div style="background-color: none transparent;"><a href="http://www.rsspump.com/" title="RSSPump Website Widgets">Website Widget</a></div>

Hibs have revealed trading losses of almost £1 million for the year ending 31st July despite reaching the Scottish Cup Final and reducing salary costs.

The loss of £900,000 comes following a disappointing SPL season which saw the Hibees finish second bottom of the table with safety ensured on the penultimate day of the season.

Season 2011/12 also saw the sacking of Colin Calderwood and a high turnover in staff as new manager Pat Fenlon tried to re-shape the team following his appointment.

With limited transfer income, the sell on fee from Sol Bamba virtually Hibs only gain on that front, Hibernian posted only their second overall trading loss in 8 years.

Net debt is up £0.5 million to £6.4 whilst wages to turnover (£4.1 million) have dropped from 69% to 60%.

Join The Vital Debate

Whilst still in a relatively healthy state in comparison to many Scottish clubs, Chairman Rod Petrie acknowledged the poor footballing performances had hit the club in the pocket.

He told the club's official website 'The financial results for the year reflect the poor performances on the pitch almost throughout the Season. The one sporting high of reaching the final of the Scottish Cup turned sour in the manner of the defeat.

'The Club apologised to supporters for the lack of a performance on the day but now have the chance to atone for that defeat in this year's competition.'

'It is disappointing to report a loss for the year. The Manager has rebuilt the team. Now the Club is working closely with supporters to rebuild attendances at Easter Road Stadium and improve revenues for the current year despite the economic hardship that affects everyone.'

Hibs will hold the shareholders AGM at Easter Road on Monday 10th December at 7pm.



Click here to join in the debate on the club forum.

Writer:Hibernian7
Date:Tuesday November 20 2012
Time: 12:32PM

Login to post a comment

Best of Vital Network

Recent Hibernian Articles

Tough Test For Hibs In Derby

Hibs make the cross city trip to Tynecastle for the second year running in the Scottish Cup fifth round and a similar performance to the one which saw them rescue a draw from being 2 behind will be required if they wish to progress to the Cup quarter finals.

Neil Lennon's side are huge underdogs going into the match despite being the current holders of the trophy and know the Jambo's are itching for revenge following their capitulation in last season's tournament.

Tynecastle will b

Warburton Shambles Epitomises King Reign

Normally we wouldn't discuss matters at another club but... the shenanigans at Ibrox deserve a wee mention today.

Gray: 'Boss Will Have Us Ready'

Hibs captain sure Neil Lennon will have Hibees up for Derby clash.

Yogi Appointed Raith Boss

John Hughes makes a return to football.

Archived Vital Hibs Articles

Vital Hibs articles from

Site Journalists

Legends of 2016
Editor email
Profile

Current Poll (see more polls)

Scottish Cup Fifth Round Prediction v HMRC (Non-Payers)
Suggested By: Vital Hibees
Hibs Win88%
Hibs Exit12%

League Table

# Team P W D L Pts. GD
C Celtic 34 30 4 0 94 69
2 Aberdeen 34 21 4 9 67 33
3 Rangers 34 16 10 8 58 10
4 St. Johnstone 34 15 7 12 52 6
5 Hearts 34 12 10 12 46 8
6 Partick 34 10 12 12 42 -3
7 Kilmarnock 34 8 14 12 38 -17
8 Ross County 34 8 12 14 36 -13
9 Dundee 34 9 6 19 33 -19
10 Hamilton 34 6 14 14 32 -20
11 Motherwell 34 8 8 18 32 -24
12 Inverness 34 4 13 17 25 -30
Write for Vital Football
Latest F1 News
Latest Vital Boxing News
The Vital Football Members League

Recent Hibernian Results (view all)

Hibernian Fixtures (view all)

May 6 2017 3:00PM : St Mirren (H)
Scottish Championship
Vital Football Comment