26th July 2016

Saints report £296,000 profit

Saints have posted an annual pre-tax profit of just over £296,000 for the financial year ended 31st May 2008.

In his statement to the Club’s Shareholders Chairman Geoff Brown expressed satisfaction with both the football and financial side of the club, stating that advances had been made in both areas.

The healthy profit of £296,756 has been due, in part, to the Club reaching the semi-final of the Scottish Cup last season together with increased use of the facilities at McDiarmid Park for both football and non-football activity.

Geoff told Shareholders “As I have stated on many occasions, the utilisation of the facilities at McDiarmid Park are of great importance to the Club and I am pleased to report a further increase in turnover coupled with a good operating profit in this area. This will continue to be a key area and a vital source of revenue for the Club and great importance is attached to ensuring that such progress continues.”

He also revealed that as well as providing “significant investment” to Derek McInnes in order to strengthen the playing squad, money had also been spent on ensuring that the stadium – now 19 years old – remains in good condition.

The Chairman continued “Since St Johnstone FC relocated to McDiarmid Park in 1989, it has always been our aim to keep the fabric of the stadium in good condition and a significant sum has been spent in this area with further capital commitments being in place since the year end. I regard such a spend as an investment in our facilities and this should provide an ongoing return for the Club.”

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