Walsall announce £25k profit for financial year

The club's annual report has finally been published having been delayed due to the pandemic and show's the financial state for the year up to May 31, 2020.

Turnover is down by just over £1million as the club lost £321,000 in match receipts, dropping to £915,000. The overall turnover for the year was £5.59 million.

Operating costs were down £790,000, while Walsall's net debt, which includes loans from directors, increased by £151,000 to just under £1.9million.

The average monthly playing and coaching staff increased from 86 to 89, while other staff went up from 45 to 48. Despite that, the wages and salaries decreased from £4.09m to £3.47m.

Directors' remunerations increased by £6,000 to £199,000.

Overall, however, the club recorded a £25,000 profit.

A statement from chairman Leigh Pomlett read: "I am now in a position to announce a profit for the year of £25,000 (£19,000 – 2019). Within this, it is important to note that the Pandemic has impacted the reporting year during the period from the first lockdown in March 2020 to May 2020 inclusive. Sadly, the effects of Coronavirus have extended far beyond 31 May 2020 and will be profound in future years to come.

"This result for the year has only been possible as a result of many people deciding to donate season ticket revenue, ticket revenue and commercial spend to the club at a time when we were unable to deliver matches and commercial itinerary. This groundswell of support and clear love for the club is truly humbling and for this I will be ever grateful.

"On the pitch, it seems a lifetime ago now, you will recall the 2019-2020 season was temporarily suspended in March 2020 and subsequently curtailed with the team finishing in 12th place on an average-points per game basis, an encouraging top half finish following relegation at the end of the previous season. Something to build on but we all understand there is still much work to do as the 2020-2021 season has demonstrated thus far.

"My ambition and that of the club remains undiminished. We still strive for a return to the Championship in short order but fully appreciate a return to League One at the earliest opportunity remains our absolute priority. Similarly, I can report that the project to reunite the club with its Freehold continues in earnest.

"I have to admit though, that the timescale to achieve both of these goals may have to be extended by a year or so as a direct result of the untimely intervention of the pandemic.

"Off the pitch, the support we have received this year from all of our commercial partners and sponsors has been amazing."