UK time is: 17:31:33
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 Hibernian Articles

Stevenson Charged By FA (Tuesday August 19 2014)

Alloa Tickets On Sale From Today (Tuesday August 19 2014)

Walker Stands Accused (Monday August 18 2014)

Hibs Lose In Derby Drama (Monday August 18 2014)

Hibs Look For Capital Bragging Rights (Saturday August 16 2014)

Nelson Can Leave Say Hibs (Friday August 15 2014)

60% Back Stubbs To Take Hibs Up (Friday August 15 2014)

Hibs Confirm Reduced Cup Tie Prices (Thursday August 14 2014)

El Alagui Excited Ahead Of Derby (Thursday August 14 2014)

Archived Hibernian 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 139
2. Davie_T 75
3. Nribs 41
4. Hibbyowl 13
5. Cramond Hibee 11
6. Stanton Le God 7
7. BennyBrazil 2

Breaking League News

Collins optimistic for test
Celtic : 20/08/2014 16:30:00
Hosts won't underestimate Celtic
Celtic : 20/08/2014 16:25:00
Celtic look to take second chance
Celtic : 20/08/2014 11:59:00
McCoist Hopeful On Injuries
Rangers : 19/08/2014 21:02:00
Boyd - It Was A Team Showing
Rangers : 19/08/2014 20:48:00

Current Site Poll (view all polls)

Where do Hibs need to strengthen?
Suggested By:  Vital Hibs
Goalkeeping 2%
Defence 26%
Midfield 3%
Attack 69%