Profit boost as Pompey announce results

Mark Catlin. Picture: Joe Pepler
Mark Catlin. Picture: Joe Pepler
Pompey midfielder Danny Rose. Picture: Joe Pepler

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Pompey have posted operating profits of £312,168 for the first full year of community ownership.

The results were announced at last night’s Pompey Supporters’ Trust meeting at Fratton Park.

The original budget presented to the Football League upon taking over the football club was an operating loss of £750,000.

Now finance director Tony Brown has announced the profit and loss for the year ending June 30, 2014, totalling £312,168.

The same period also saw a turnover of £6,057,817.

Meanwhile, the loss before tax was £251,000 – against a previously estimated loss of £965,000.

It represented more news to delight the Fratton faithful on the day Pompey announced it had become debt free.

And chief executive Mark Catlin has urged the club to keep driving forwards and build on the positive strides already made.

He said: ‘If we can just keep improving year-on-year then we will get to where we want to be.

‘We need to keep our feet on the floor, repeating the disciplines and structures and all the things we are doing today.’

At a packed Victory Lounge, Ashley Brown announced the Trust presently own 48 per cent of the club.

At a previous meeting in the summer, members were told the Trust accounted for 51 per cent.

Brown revealed the 48 per cent was representative of £2.7m handed over by fans.

Meanwhile, Football League reporting and operating conditions have now been lifted.

That is a result of settling around £7m of legacy debts over an 18-month period.

Debts to ex-players and clubs that stood at £2.1m in June were also settled this month.