Town made a loss of £6.6 million in the year to the end of June 2016, the club has announced.
Ahead of tomorrow’s AGM of the PLC, which owns 12.5 per cent of Town, the Blues have made public the financial highlights of the club as a whole.
In the previous financial year Town made a profit before tax of £5.5 million due to the the sales of Aaron Cresswell and Tyrone Mings but made an operating loss of £6 million. In the year to June 2016 the operating loss was a similar figure, £6.6 million, with only £400,000 having come in via player trading compared to 2014/15's £11.4 million.
The club’s overall debt is down slightly from £87.19 million to £86.51 million with ‘other group loans (non-interest-bearing)' having been reduced by £1.4 million and 'convertible loan notes' down by £163,000, while cash in the bank was down from £896,000 to £91,000.
Town’s debt is owed almost wholly to owner Marcus Evans’s other companies with MD Ian Milne having previously outlined the position.
"This is no third party debt," he told TWTD in November 2014. "The money that an owner has put into a club, he’s never going to see that back, unless maybe it goes up [to the Premier League]. But even then I doubt he’ll see that return."
Town’s turnover in 2015/16 was down slightly to £16.28 million from £16.41 million in the year to June 2015.
The wage bill, by far the biggest outlay, was £16.57 million, up from £15.97 million during the 2014/15 season.
The financial highlights in full can be found on the club site here.