Hearts release financial results for year ending June 2015

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BY DARREN JOHNSTONE @CCP_Sport

Hearts have today announced their financial results for the year ending June 2015, here are some of the main points:

•    Turnover up £0.47 million to £7 million
•    Staff costs up £900,000 to £3.8 million
•    Operating charges up to £3.6 million from £2.5 million
•    Net cash inflow £1.97 million
•    Foundation of Hearts contributions £1.47 million
•    Operating loss £681,000
•    Net debt £1.6 million, down from £3.15 million
•    Cash ‘at bank and in hand’ £3.52 million

Hearts chair Ann Budge said: “The board would like to express its thanks to employees, players, supporters, shareholders and other associates such as sponsors, commercial and community partners who continue to support the business.”

The club’s 109th AGM will take place on December 3.

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