Kilmarnock post reduced profits in their annual results
Last updated on .From the section Football
Kilmarnock chairman Michael Johnston pointed to success on the pitch as the club announced a reduction in profits.
The Ayrshire outfit reported a trading profit of £11,384 for the year ending 31 May 2012, down from £186,597 in the previous year.
Despite an increase in the club's debt, Johnston praised the Scottish Communities League Cup final victory.
"What a wonderful year of football we've all enjoyed since I prepared last year's chairman's statement," he said.
Kilmarnock's net debt rose by £83,000 to £9.84m, while turnover for the year was £7.4m, an increase of almost £300,000 on the previous 12 months.
Player and staff costs were just over £3.5m, similar to the figure spent in the last four years.
An interim revaluation of the stadium found Rugby Park to be worth £11.3m.
Johnston, in his statement to shareholders, also complimented manager Kenny Shiels and the players on a successful year.
"Kenny's mantra in the dressing room in the build-up to the final was "believe to achieve" and it clearly struck a chord with our entire squad and backroom staff," he said.
"If the year ahead holds the same level of sporting enjoyment and success, we're all in for a wonderful treat."
Simples - there would be no money for you to carve up if the other (locally supported) teams did not exist.
The accounts only cover up to end of May so cup final run is possibly not included, still not great but hardly the Armageddon that Sevco followers hoped for
Solve that same problem in Edinburgh, Dundee, Motherwell, etc, and Scottish football could finally move forward.
If you look at SPL prize money you'll see that the teams that finish first and second are awarded a similair amount of prize money but the jump to 3rd place and below is massive. 3rd place gets roughly 60% of the money for 2nd place. Why do you think that would be? As I said before carving up Scottish football to suit themselves.
Would be a nice change to see EVERYONE interested in the Scottish game to stop looking at what happened to Rangers and consider the bigger picture.
If other clubs have similar levels of debt and the lenders call it in, Scottish football will disappear over night.
Why hope?? are you wishing one of Scotland's oldest clubs ill-will? Killie took best part of 2500 fans last week to Paisley. I believe a similar amount of Celtic fans came to watch the table toppers last month at Rugby Park.
It has been a great year for Killie.
Hibs debt has increased by over £1.8m over the last two years, and currently stands at £6.9m.
Home attendances way down, no more sellable assets, best players on short term loans, living beyond their means.
I hope Uncle Tom doesn't lose interest like Vlad!
That was last season, hahaha.
SPL dies, end of season.
#11 Andrew MacGregor.
Do us all a favour and grow up.
Since there isn't much call for huge stadia, either in Glasgow or Ayrshire, the land that they're on is the only real-life value.
Rugby Park has been valued at that figure for one reason and one reason only, to keep Killie FC notionally solvent.
It's precisely the same ploy Murray used when he had Ibrox valued at £100m.
Went to Edinburgh on the 29th. Couldn't get a ticket for the Hibs v Celtic match as you have to go to a cat 'b' match first. Stadium had lots of empty seats. Petrie says costs must be cut or attendances improved. Here's some advice for him. Let Hibs fans buy tickets on the day at a reasonable price.
rangers income was £35m compared to killies £4mish. big difference.
@23 i thought yours was a point from an an angry hearts fan.
Nice bit of Hobo-economics there.
Hibs have reported losses of £1.8m over the last 2 years which were termed "unsustainable" by a Club Director. Irrespective of previous years Hibs are CURRENTLY living beyond their means.
I wonder if these figures detail the debt owed to the bank, which will not be £9m+
Killie are not "paying" off their £10m debt. They are only servicing the interest. Taking into account pathetic attendances, how do you suggest they are going to pay off the debt?
They are only solvent because they have a balance sheet value of £11.3m for Rugby Park. Eh... try £2.5m MAX for LAND value in a wind up situation.