Sunderland AFC Limited has filed its annual accounts for the year ending July 31, 2016. The figures highlight the period from August 01, 2015 through to July 31, 2016.
During this period, which featured a 17th place finish in the Premier League, the club had a turnover of £108 million. This represents an increase of £7 million on the 2014-15 figures and shows a small operating profit of £1.5 million. These figures do not include player amortisation and trading costs however, which saw a commitment to gross transfer fees of £38.3 million during the 2016 summer window.
The period saw a reduction of £23 million in the club’s net debt, from £133.2 million, to £110.4 million.
The figures also highlight the continued commitment from the owner to fund significant shortfalls within the club’s finances on an ongoing basis.
Speaking about the results, chairman Ellis Short said: “We acknowledge that our financial performance must improve significantly.
“It is not something that can be fixed overnight, however we have taken the first steps towards making the positive changes necessary by restructuring the club at senior level, including the appointment of CEO Martin Bain last summer.
“Implementing these changes was done with the aim of giving us the best platform from which to proactively address the issues we face both on and off the field and that will be our focus moving forward.”
| KEY INDICATORS |
2016 |
2015 |
| Operating Profit |
£1.5m | £1.1m |
| Player trading / Amortisation costs |
£26.4m | £20.5m |
| Loss (after tax) |
£33m | £26.6m |
| Wages to turnover ratio |
77.6% | 76.3% |
| Debt |
£110.4m | £133.3m |
| Cash at the year end |
£26.9m | £2.5m |
| Average home league attendance |
43,071 | 41,379 |