Carlisle United Football Club announces disappointing results
Carlisle United Cumbrian Football Club reported no increase in revenue compared to last year, with a total income of £3.55 million.
They report that this is due to poorer programme sales and reduced hospitality income.
Expenditure was reduced by £291k from the previous year, despite a small increase in loan player fees to £87k.
The 2012/13 season saw a need to continue the ‘cost improvement programme’ which sought to reduce the overall losses at the club.
Last season saw total losses of £666k and a reduction in net assets to £2.45 million.
In the last twelve months total losses have been reduced to £369k with net assets now at £2.08 million.
Relegation from League 1 to League 2 will have a large impact on the upcoming year as the guaranteed income will fall by £286k.
The club is however forecasting a cash neutral result for the coming year and aiming to be promoted back to League 1 within the next two years,
Managing director John Nixon said: “The results were not at the ‘cash neutral’ state that was planned for the year and, as such, were disappointing.
“However, after management changes the directors backed the new regime financially in an attempt to avoid relegation from League 1, albeit this was subsequently not successful.”