UK time is: 19:24:51
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

'If It's Football, It's Vital'

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.




Use your social login to comment on front page articles. Login using you Facebook, Twitter, Google or LinkedIn accounts and have your say!



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

The Journalist

Writer: Hibernian7 Mail feedback, articles or suggestions

Date:Tuesday November 20 2012

Time: 12:32PM

 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Articles

McPake Hopeful of Derby Return (Thursday April 24 2014)

Stick or Twist For Butcher (Thursday April 24 2014)

Hibs Offer Free Travel For Dingwall (Wednesday April 23 2014)

Madden Confirmed As Derby Ref (Wednesday April 23 2014)

Hibs Linked with Saints Star (Wednesday April 23 2014)

McPake & Robertson Close To Return (Tuesday April 22 2014)

The Blame Game (Tuesday April 22 2014)

Williams offers honest assesement (Monday April 21 2014)

Preferred Partnership? (Thursday November 1 2007)

Archived Articles

List All Vital Hibs Articles
Have your say
Click here to suggest an article
Click here to suggest a poll

Vital Members League (view all)

1. Franck_Sauzee 19
2. Happypaws 17
3. Hannibal 6
4. Smiggy6270 1
5. dogg-gone 1

League Results (view all)

League Table (view table)

Team P W D L GD Pts
6. St. Johnstone 34 15 6 13 9 51
7. St. Mirren 34 9 7 18 -19 34
8. Kilmarnock 34 9 6 19 -17 33
9. Partick 33 7 12 14 -18 33
10. Hibernian 33 7 10 16 -17 31
11. Ross County 34 8 7 19 -21 31
12. Hearts 34 8 7 19 -24 31

Breaking League News

McPake Hopeful of Derby Return
Hibernian : 24/04/2014 09:02:00
Stick or Twist For Butcher
Hibernian : 24/04/2014 07:00:00
Hibs Offer Free Travel For Dingwall
Hibernian : 23/04/2014 19:24:00
Madden Confirmed As Derby Ref
Hibernian : 23/04/2014 11:55:00
Hibs Linked with Saints Star
Hibernian : 23/04/2014 08:09:00
Assistant to depart Celtic
Celtic : 22/04/2014 22:59:00
Striker case delayed
Celtic : 22/04/2014 22:46:00

Current Site Poll (view all polls)

Can Hibs avoid the relegation play off?
Suggested By:  DKM
Yes 34%
Unsure 16%
No 50%