Harriers announce 1st seasons loss
The club have announced a loss for their first season in the 3rd Division just as the present one is coming to a end.
Shareholders will be told of the £265,375 loss at their annual meeting in the executive suite at Aggborough on Thursday May 2nd.
The loss is highlighted in the club's statement of accounts for the year ended May 31st 2001 when our turnover in that period amounted to £1,661,368 compared with £898,351 for the previous 12 months.
The club's administrative expenses rose from £1,299,518 to £1,915,394.
This news could go some of the way to explaining why the new 2,400 seater stand planned for the railway side of the ground has been put back until the situation re: the ITV Digital deal worth £238,000 becomes a bit clearer.
With this loss, although not massive, it does show that the club are having to tighten their belt a little until these items plus the new manager's appointment are confirmed.
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