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Re: lets forget about it
Quote:
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This from the Release to the Press, from the October 2006 (most recent) Hibs AGM:
- Net debt at 31 July 2006 was £6.8m (2005: £9.3m). The reduction in net debt during the year was £2.5m. The reduction was mainly due to a combination of the operating profit for the year and the money received from player sales and tickets.
- There are two stadium mortgages which amount in total to £6.5m (2004: £6.5m). The terms for the £2.5m stadium mortgage were changed such that it is now ‘interest only’ with a single repayment due in 2020. This improves the Club’s cash flow in the intervening period, and means bettering operational efficiencies.
So unfortunately we are hardly debt free, but getting there reasonably fast
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Forgive my ignorance but is the debt 6.8m including or excluding the stadium mortgages. I am assuming its excluding making the picture slightly less rosy than some may think.
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They're gone, not here, forgotten
The maroon brigade now cry
The city is now Hibernian
The team that would not die.
[copyright: Daddy O'Hibee]
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