Cheltenham Town have declared a trading profit for a third consecutive season.
For the third consecutive season Cheltenham Town Football Club are able to declare a trading profit.
The club made a profit of £80,609 for the year ended 31 May 2013.
The result mirrors an equally successful season in Football League 2 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. It is impossible to understate the importance of the FA Cup which is one of the few opportunities for smaller clubs to make significant income.
The profit would have been even higher but the Directors decided to invest significantly in the playing squad in the January transfer window to sustain the challenge for an automatic promotion place. Sadly this did not materialise but never the less to once again finish in the play off positions was a commendable outcome.
The club was able to retain tight control over all areas of expenditure but in difficult trading conditions gate receipts and commercial income were down on the 2012 result whilst the subscription received from being a member of the Football League fell by almost £100k. These shortfalls however were compensated by a substantial increase in media income from the televised Everton match.
Commenting on the result Club Chairman Paul Baker said:
"This is a terrific result and reflects the determination of the Board to run the football 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. And 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. And you could argue that the investment paid off with the securing of the play off position. Importantly the result means that we did not have to draw down any of the investment we received a couple of years ago and this enables us to look forward with confidence and cautious optimism."
You can read more from Paul Baker on this news in the weekend's matchday programme.