Cheltenham Town: A third season in profit, but Robins won't splash their cash
WELL-managed Cheltenham Town are set to report of a profit of close to £100,000 for the year ending May 31, 2013.
Chairman Paul Baker declared himself delighted with the club's financial position.
"We are just about to announce another profit of towards £100,000," Baker said.
"It will be the third or fourth year in a row we've been in profit, which is a good sign.
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"It shows stability and good management."
Cheltenham were given substantial investment from anonymous backers and Baker said the recent FA Cup runs and play-off appearances mean they have not had to use as much of it as they expected to.
"We have drawn down some of it, but we wanted it to last three years to support the budget and the great thing is that due to our success we haven't used that much of it," Baker said.
"We still have a couple of years' worth of money, but we have to be mindful of when it's not there.
"It will be a very tight ship and we'll have to make savings, with the biggest issue cash flow."
Cheltenham's cash injection has given them breathing space at difficult times of the year.
"Cash flow has always been hard for us so this investment has been fantastic from that point of view," Baker said.
"We have a great relationship with the bank and no overdraft so financially things are good, but we still have to be careful.
"We won't spend money 'willy-nilly' and we have made some careful investment in the ground, which fans will notice this season.
"We have built a much-improved sign at the car park entrance and fitted some new seats in the old main stand.
"We have also taken on the full lease at Seasons, which will be of tremendous benefit to the Academy and the senior squad too, so we are using the money sensibly."
Cheltenham reported a profit of more than £216,000 for the year ending May 2012.
That followed up a profit of just over £30,000 the year earlier, compared to a loss of over £270,000 for the previous year and one of over £800,000 in 2009, when they teetered on the brink of administration.
Given the club's secure footing and the fact they have reached the play-offs for the past two years, Baker said anything other than a top seven finish this season would be a disappointment.
But he was keen to emphasise that the club's budget still remains middle of the road for League Two, while their home gates are also just below average for the division.
"I think we'd be disappointed not to replicate at least the last two seasons and reach play-offs," Baker said.
"A bonus would be automatic promotion, but we have no right to expect those things because it's a tough league and our budget is average for the our division, so if we reach the play-offs it would be another huge achievement for Mark (Yates, manager)."