Yeovil report Huish Loss

Somerset's only Football League club, Yeovil Town, has reported a loss of close to £1M for the year to June 30th 2009.

The loss of £976,402 is said to be the biggest in its history, and it appears certain directors have had to make loans to the club.

"The company has reported a net loss before tax of £976,402," say the auditors. "Income was significantly down on the previous year, the result of reduced football and stadium related income and the fact that there were no player sales in the year. Although playing staff costs were reduced to some extent, these remained relatively high compared to income.

"In cash terms, the effects of these losses were partially mitigated by cash receipts from player sales in 2007/08. However, cash flow has become tight and the company's shareholders have introduced loans to the company both during the year and subsequent to the year end in order to ensure the company remains within its facilities."

Some years ago when Hereford United had financial problems, Yeovil took advantage by buying players such as Gavin Williams for next to nothing.

However more recently Hereford United has become somewhat better off. Their last accounts showed a profit of £27,000, the fifth year in a row that the Bulls have traded profitably.

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