Financial results for 2015/16 announced

The Club has announced today its financial results for the year ending October 31, 2016.

EBITDA (earnings before interest, taxes, depreciation, and amortisation) loss for the year was £65,835. This is an area which has seen dramatic positive progress since 2009, but the Club reported that 2016 was a tougher year.

However, after interest, depreciation and the net impact of other items, the historical surplus for the year after taxation was £1.897 million. During the year the Club completed the sale of land on the Old Dover Road side of The Spitfire Ground, St Lawrence to McCarthy and Stone was completed.

Chief Executive Officer Jamie Clifford said: “It was a tougher year from a trading perspective, but it is very encouraging that the Club’s overall financial health is much improved.

“The Club is extremely fortunate to enjoy the support of so many in helping to continue the positive progress that is being achieved.

“I am sure all will join me in wishing George Kennedy CBE the very best as he moves on – his input as Chairman should not be underestimated.”

The Club’s AGM will be held at 7pm on Tuesday 28th March at The Spitfire Ground, St Lawrence. Members will receive the financial accounts and report in the coming days.