Cheltenham Town have today declared a consolidated profit of £50,000 over the last two financial years.
When the club was relegated in 2015 the Board of Directors made the decision to prioritise the 2015/16 campaign as the season to bounce back.
Investment was made accordingly with the aim to make an immediate return to the Football League. In the accounts ending May 2016 the club announced a loss of £128,000.
From a timing perspective a two year cash flow picture was taken and the club is now delighted to announce that the following 12 months has seen the club able to announce a trading profit of £178,000 for the year ending May 2017.
Therefore, a consolidated profit of £50,000 has been recorded over this two-year period for Cheltenham Town FC.
Paul Baker, Chairman at Cheltenham Town FC, said: "As a football club, any profit is a very positive achievement and to record a £50k profit over two years is something that we should all be very proud of. It is very important to run our business, our football club sustainably.
“We have over the last two years strengthened our commercial activities to generate new revenue streams, strengthened our Board to future proof stability and to identify and develop new opportunities, and strengthened our business by investing in new staff and investing too in our infrastructure.
“We are not straddled with debt and we are not indebted to banks. We have managed our financial affairs with prudence meaning cash flow, so often a worry in the past, is no longer a worry and this means we can look forward with confidence."
There will be a fans forum with members of the Board and football staff in the Premier Suite at the LCI Rail Stadium on Thursday 8 March at 7.30pm. The forum will be open to all supporters although, as usual, shareholders will be given the first opportunity to ask questions with regard to the accounts.
Shareholders will receive a copy of the 2017 annual report and accounts by email this week. Any shareholders who have recently changed their email address are asked to provide details to Paul Godfrey: email@example.com.