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Latest GTFC Financial Results Released...

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Peeler_Crab
November 1, 2019, 11:26am Report to Moderator
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Town announce profit of £150,573 for the year ending 31st May 2019.

Turnover in 2018/19 increased by 11.8% compared to the previous year, primarily due to an increase in central distributions received from the Football Association and the Football League, player trading and reaching the Third Round of the Emirates FA Cup for the first time in five years. The ability to be able to make a consistent investment into the Youth Academy will assist the club in reaching its long term goals, enabling it to maintain a clear progression pathway. This is evident with a number of graduates earning professional contracts and fighting for first team opportunities in the past year.

It was noted in the previous year’s report that the club were asked to reconsider other potential sites due to there being no political backing for relocation to Peaks Parkway. Due to this further delay, the club has commenced a programme of works to improve the facilities at the stadium. This includes disabled access and facilities, playing facilities, providing heating to the Main Stand, replacement floodlights and refurbishment of the toilet blocks.



“What has Alan Buckley got in his pocket!" Roly Godfrey - Blundell Park - 1990.
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marinerdazza
November 1, 2019, 11:43am Report to Moderator
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Focusing purely on the financial side of things, you have to say that's a pretty good achievement in the current climate.
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Abdul19
November 1, 2019, 11:46am Report to Moderator

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Aye. And yet people will still claim that the club would fold 'if it wasn't for Fenty sticking his hand in his pocket'!


Fentys out
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Swansea_Mariner
November 1, 2019, 11:50am Report to Moderator
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I wonder if that's before or after any loan repayments, hopefully the debt to Directors continues to shrink.
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RichMariner
November 1, 2019, 12:05pm Report to Moderator
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We're financially stable and operating within our means. That's a good thing.

But the trade-off is that, if we want to progress, we're going to have to spend more. Well, we don't have to — Accrington are proof of that — but given where we've been for the last few years, it's likely that we'll stay right where we are.

I don't want us to spend money we don't have and put our future in jeopardy. But I also understand the frustration from fans that feel we need to spend more to give ourselves a chance of getting into L1, where there are some extra financial rewards.


"Don't shine that light in my face, mate - I've just lost a pint of blood."
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Heisenberg
November 1, 2019, 12:14pm Report to Moderator
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Quoted from RichMariner
We're financially stable and operating within our means. That's a good thing.

But the trade-off is that, if we want to progress, we're going to have to spend more. Well, we don't have to — Accrington are proof of that — but given where we've been for the last few years, it's likely that we'll stay right where we are.

I don't want us to spend money we don't have and put our future in jeopardy. But I also understand the frustration from fans that feel we need to spend more to give ourselves a chance of getting into L1, where there are some extra financial rewards.


I agree with everything you've put there.  However, my immediate worry is the threat of relegation now, as our form is terrible.  It's like Groundhog Day at this club.
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The Old Codger
November 1, 2019, 12:41pm Report to Moderator
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Quoted from RichMariner
We're financially stable and operating within our means. That's a good thing.

But the trade-off is that, if we want to progress, we're going to have to spend more. Well, we don't have to — Accrington are proof of that — but given where we've been for the last few years, it's likely that we'll stay right where we are.

I don't want us to spend money we don't have and put our future in jeopardy. But I also understand the frustration from fans that feel we need to spend more to give ourselves a chance of getting into L1, where there are some extra financial rewards.


Just been for tickets for next week and was served by Steve Wraith who told me that most of the profit was down to the Palace gate receipts which we didn't get (and therefore wasn't spent) till the very end of the transfer window. As the year end is in May, I'm guessing that some of this was passed down to MJ for the summer window.
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Southwark Mariner
November 1, 2019, 12:47pm Report to Moderator
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Quoted from The Old Codger


Just been for tickets for next week and was served by Steve Wraith who told me that most of the profit was down to the Palace gate receipts which we didn't get (and therefore wasn't spent) till the very end of the transfer window. As the year end is in May, I'm guessing that some of this was passed down to MJ for the summer window.


bodes well for the Chelsea cash.
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FishOutOfWater
November 1, 2019, 12:58pm Report to Moderator
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Quoted from RichMariner
We're financially stable and operating within our means. That's a good thing.

But the trade-off is that, if we want to progress, we're going to have to spend more. Well, we don't have to — Accrington are proof of that — but given where we've been for the last few years, it's likely that we'll stay right where we are.

I don't want us to spend money we don't have and put our future in jeopardy. But I also understand the frustration from fans that feel we need to spend more to give ourselves a chance of getting into L1, where there are some extra financial rewards.


That's a bit rich coming from you!

Just kidding.... you've hit the nail on the head.

The Catch 22 of do you accept where we are and hope for some more footballing fortune or do we speculate to accumulate... but at the same time expose ourselves to the risks of making "investments" that don't come to fruition

My view is that we carry on building little by little.... sustainably, strategically rather than going gung ho.

If we can keep on turning out young players who either move on for money or become 1st team regulars, I'd say that sooner rather than later we might get to see some better chances of success than might seem to be on the horizon just now on the back of a few poor results

Keep the faith!  UTM GTID  ATAW
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louth_in_the_south
November 1, 2019, 1:09pm Report to Moderator

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It’s got to be said - well done to everyone at the club 👍

You only have to see what’s going on at other clubs around the country and the mess they’ve got themselves in that I’m fairly happy to live within our means . Ok we’re only bobbing along but supporting a club means that . Realistic expectations should be kept. Things do seem to be going the right way - if a bit slower than most would like - but nonetheless we’ve got a club to support every weekend.

And a club that can show a profit is always going to be more attractive to a buyer !


Lower F5
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