Cheltenham Town: A terrific financial result for Robins
CHELTENHAM Town have declared a trading profit for a third consecutive season.
The club made a profit of £80,609 for the year ended May 31, 2013.
The result mirrors an equally successful season in League Two with the club reaching the play-offs for the second consecutive season, but once again the FA Cup proved to be a major money spinner with the televised match against Everton.
The club were able to retain tight control over all areas of expenditure, but in difficult trading conditions gate receipts and commercial income were down on 2012 while the subscription received from being a member of the Football League fell by almost £100,000.
These shortfalls, however, were compensated by a substantial increase in media income.
Robins chairman Paul Baker said: "This is a terrific result and reflects the determination of the board to run the club on a disciplined and sustainable business model.
"Success on the pitch should lead to success off it, and success off it should ensure confidence and stability going forward.
"By making profit it means we can continue to reduce debt and invest modestly in the team, in the infrastructure and our staff.
"We did take a calculated gamble in January but I think it was the right thing to do at the time, to support the manager and to invest in the playing squad. I also believe that is what our fans would have wanted us to do.
"You could argue that the investment paid off with the play-off appearance. Importantly the result means that we did not have to draw down any of the investment we received a couple of years ago and we can look forward with confidence and cautious optimism."