Hereford FC have released some financial stats along with some comments from the chairman following tonight's shareholders meeting.
“Pleasingly, from an on-field point of view, the improved financial
performance and projected profit allowed us to strategically increase
the playing budget and improve the squad during the course of the
2023/24 season (the unbudgeted for income from the cup runs being key to
this) and also improve the initial football budget for the 2024/25
season by 15%," said chairman Chris Ammonds.
“The football budget for this campaign was then further enhanced by the fantastic response to Squad Builder and I remain incredibly grateful to everyone who has contributed to that initiative this year.
“We have also been able to complete infrastructure projects like the drilling of a borehole for the sprinkler system, which is already saving us so much money on bills that it looks likely to pay for itself within 18 months.”
2023/24 Financial Year Highlights (all figures are approximate):
- Turnover (income) was £1,480,000
- Expenditure was £1,360,000 (with over 50% being spent on football and matchday costs)
- Profit recorded was £120,000
- Bar and Club Shop profits up by 69% (compared to 2022/23)
- The overall profit from the FA Cup and FA Trophy runs was around £100,000
- Season Ticket revenue increased by 23% (compared to 2022/23)
- League match ticket revenue increased by 49% (compared to 2022/23).
Edgar Street infrastructure projects needed:
- Replacement of the Merton Stand roof has been recommended within the next 2 years. Initial quotes suggest costs of at least £150,000
- The roof of the RE Resource Hereford Suite needs renewing due to persistent leaks. Initial quotes suggest a cost of around £50,000
- Improvements required to the accessible facilities (particularly the toilets). This work is likely to cost between £10,000 and £20,000
- The stadium PA and CCTV needs to be upgraded as the current systems are dated and almost obsolete. To replace the systems to the required standard is likely to cost more than £30,000.