Ipswich make a profit

Town are in the money.

Well, sort of, after making £136,000 before tax and interest paid in the last financial year.

The profit comes on the back of selling Connor Wickham to Sunderland and Jon Walters to Stoke City.

But the debt owed in the main to club owner Marcus Evans crept up from £57.03m to £66.17m, which is due to loans from Evans’ group.
And while the money made in the transfer market was £10.85m the club made an operating loss of £10.72m.

An information sheet sent to PLC shareholders, which owns 12.5% of the club, showed Town`s overall financial position ahead the AGM to be held at Portman Road on Monday December 5.

The club’s turnover was up from £15.62m in 2009/10 to £17.25m, mainly due to an additional solidarity payment from the Premier League.

Player and coaching staff costs have gone up from £13.45m in 2009/10 to £13.73m in 2010/11 but as a percentage of turnover those costs were down to 79.6 per cent from 86.1 per cent.

The commercial income was down slightly from £5.22m to £5.11m, while overall staff costs were down from £17.08m to £17.05m, which is 98.9 per cent of turnover, compared with 109.4 per cent the year before.

Income from the Football League, which includes TV and radio fees, went up to £5.5m from £4.01m the previous yearm while gate receipts were up from £6.39m to £6.64m.


Blues chief executive Simon Clegg told itfc.co.uk: “I am delighted that we have achieved a profit in what is such a difficult economic climate.
“Marcus Evans has continued to commit to the long term future of the Club and being able to bring in a profit is a huge boost.”