Hibernian reports profit

Scottish Premier League Hibernian earned a record profit of GBP 7.4 million after a year of success on and off the grounds.

Edinburgh won the CIS Cup, reached the final of the Scottish Cup and finished in the top six.

The sale of Scott Brown to Celtic and Kevin Thomson to Rangers, both Scottish clubs earned GBP 6.4 million on transfers, while the GBP 2 million sale of Stephen Whittaker, also to Rangers, was not included in that figure.

"The club's costs are in line with revenues which is a sustainable and stable base for continued prosperity and growth," Chairman Rod Petrie told the club's website.

"To trade at a bottom line profit, excluding transfers, for the third straight year is a major achievement. It is one of the most pleasing aspects of the accounts, he added.

"Sporting success is what the club strives for and the emphatic cup final victory reflects the skill, dedication and hard work of the players, coaching staff and management team. Supporters turned out at Hampden in huge numbers, their good natured and passionate support was much commented upon."

"I would also like to thank the Hibernian supporters who turned out at Easter Road Stadium in increasing numbers to support their team last year, and continue to do so in even greater numbers so far this season."

The club's records showed its bank debt at GBP 2.8 million, with an increase in turnover to GBP 9.8 million, while another GBP 2.1 million was spent on construction of a new training ground with the same figure allocated for the new facility.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.