Yeovil Town announce profit for fifth successive year
YEOVIL Town have announced an operating profit for the third successive financial year with the latest five-figure sum more than £30,000 higher than the previous statement.
Turnover increased by 5.4 per cent to £3.156M for the year ending June 30, 2012, with operating profits climbing £32,425 to £53,379.
Glovers' chief executive Martyn Starnes reported that revenue from gate receipts had fallen during the period that saw Gary Johnson take over as manager from Terry Skiverton at the midpoint.
However, income from commercial and advertising activity as well as player transfers - believed to be sell-on fees from the likes of Lee Peltier's switch from Leicester City to Leeds United - increased significantly.
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Starnes said: "We are very pleased to be able to report a surplus for the third year in succession.
"This result has been produced in extremely challenging economic conditions whilst at the same time the management team and players have been able to maintain a significant level of competitiveness in npower League One.
"On behalf of the board of directors, I would like to thank all the staff, management, players, supporters and volunteers for their contributions to this success."
Johnson also has the board's backing to add to his squad as they aim to sustain a play-off push. The boss signed Ben Gordon on Monday and has signalled an intent to bring in further new faces.
See Pages 102 & 103 for more Yeovil Town news.