Hereford FC held their AGM this evening at which a loss of £45,120 for last season was confirmed.
Chairman Chris Ammonds and all the directors were present along with twelve shareholders.
The formal part of the meeting took just eleven minutes.
The accounts were accepted and the auditors re-elected.
Then followed a shareholders update about the first six months of the current year.
Turnover is up. In particular match ticket sales are well up. And shop sales have doubled compared with the first six months of last season.
However expenses are higher as off field staff wages have increased. And the club's electric bill is expected to rise shortly as the current deal is up for renewal.
The board are wary of predicting a profit for the year at this stage after getting their forecast so wrong last season when a suggested profit of £50,000 turned into a £45,000 loss.
But as things stand they feel that a £50,000 profit is likely.
HUST asked a number of questions.
One was about the bars which until recently have traded at a loss. Margins have now improved after some reorganisation.
Another was about the idea of rebuilding reserves. Given shareholders funds dropped to £6,523 last May, HUST feel that the club must rebuild the reserves.
In conclusion there is a feeling that the club is now being better run both on the pitch and off it.
But after four years of losses, the board still have a lot of work to do to ensure football continues at Edgar Street.