The Directors Report Pt1

[Dj Kid]

Financial Statments for the year ended 31st July 2007

The Directors prsent their report on the affairs of the company together with the audited financial statements for the year ended July 31st 2007.

Principal activity and business review

The company's principal activity is that of a professional football club. The year to July 31st has been a successful one for the club.

The football highlights include:

Winning the CIS insurance cup
Reaching the semi final of the tennent's Scottish Cup
Achieving a top six league placing
Record levels of season ticket holders
Investment in a £4.2 million training centre in East Lothian
Continued flow of young talent from the club's youth development system
Additional investmeant of nearly £1 million in the professional playing squad

In turn, the financial highlights include:

12% increase in tunrover to £9.8 million
Operating profit of £1.4 million
Net gain from football transfers of £6.4 million
Net profit for the year of £7.4 million
Debt repayments of £0.7 million
Reduction in ner Debt to £2.8 million

The club won the CIS insurance cup on 18th march 2007. Sporting success is what the club strives for and the emphatic cup final win reflects the skill, the dedication and hard work of the players, coaching staff and management team. Supporters played thier part too and the events that day will live long in the memory of everyone.

Winning the CIS cup and reaching the semi final of the Tennent's Scottish Cup both contributed to the 12% increase in turnover from £8.7 million to £9.8 million for the year. Increased attendances at Easter Raod stadium in the bank of Scotland Premier League also made a significant contribution to the increase in turnover. The average home league attendance roase from 13.800 to 14.500, an increase of 5%. Within that, the number os season ticket holders roase by 11% from 9.500 from season 2005-06, to 10,500 fro season 2006-07.

The amount spent on wages increased by 10%. However the increased turnover for the year meant that the important wages to turnover ratio for the year was almost static at 41%. During the year, manager John Collins began the work of re-shaping the playing squad for the new season. In the summer of 2007 the profesional squad was strengthened by the additon of Yves Ma Kalambay, Alan Oh Brien , Filipe Morais , Thierry Gatheussi , Brian Kerr and Clayton Donaldson.

[Purple & Green]

Originally Posted by Dj Kid
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Additional investmeant of nearly £1 million in the professional playing squad

I noticed this, and has it been covered before?

Is it Mowbray transfer fees/signing on fees or Collins fees? Anyone have any idea what the breakdown is?

[SkyeHibs]

Originally Posted by Purple & Green
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I noticed this, and has it been covered before?

Is it Mowbray transfer fees/signing on fees or Collins fees? Anyone have any idea what the breakdown is?

It is mostly Collins activity, the likes of O'Brien and Maka. I can't recall without checking when Jones was signed. If it was after 31st July 2006 it would be in these figures, if earlier it would have been in the prior year.

[GlesgaeHibby]

Originally Posted by LanarkHibs
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It is mostly Collins activity, the likes of O'Brien and Maka. I can't recall without checking when Jones was signed. If it was after 31st July 2006 it would be in these figures, if earlier it would have been in the prior year.

Zemmama is in there is as well, We had to pay compensation to his previous club

[SkyeHibs]

Originally Posted by GlesgaeHibby
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Zemmama is in there is as well, We had to pay compensation to his previous club

Indeed good point, forgot about that.