Financial boost for Norwich

Norwich have wiped out all of their external debt and returned a small profit after tax of £500,000.

Last Updated: 10/10/13 at 08:39 Post Comment

Norwich City: Good financial results for the year up to 31 May

Norwich City: Good financial results for the year up to 31 May

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

The Premier League club revealed the figures on Thursday morning in accounts published for the year end 31 May, 2013.

Overall revenue at Carrow Road was up to £78.7m from £74.3m in 2012, with a profit of £500,000 which was down from £13.5m as the club moved to slash external debt from £11.3m to around £900,000, with £700,000 of that as 'preference shares' and the remaining balance now paid off since 1 June.

Norwich chairman Alan Bowkett admits he is delighted with the figures, as the club look to cement their place in the top flight this season.

Bowkett said: "Again these are a pleasing set of financial results in line with our objective of attempting to run the club as a mutual.

"We have been able to cement our position in the Premier League by increasing our expenditure on football by 46 per cent and yet still be one of a few clubs in the Premier League to remain in profit.

"Additionally, subsequent to the accounts cut-off date, we have paid back all of our external debt.

"My thanks to all the team at Norwich City Football Club, both on and off the field."

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Related News

Most Commented

Readers' Comments

I

t's wrong to be making a joke out of Bender's name at the expense of gay people. It's the kind of childish, uncivilised thing that Football365 would deride and ridicule if it was another media outlet saying. Why is there a need for jokes like this? Does it make your writers feel like men? F365 might suggest that I 'lighten up', but it is genuinely traumatic for people who have been oppressed all their lives to be the butt of jokes, and to be told...

anamsport
The Beeriod Gossip

Y

ou can't blame De Gea for wanting to leave, he has enough to do in front of goal as it is as well as taking on the role of Man Utd's version of Derek Acorah in trying to contact and organise a defence that isn't there.

rodger's gusset
Van Gaal downbeat on De Gea

I

f you want to take six points off Arsenal, then that's a great strike force. Can't imagine either of them showing much for the rest of the season though...

foot in mouth
Adebayor & Berbatov: You Have To Admire The Balls

Footer 365

Arsenal 1 Chelsea 0: Gunners win Community Shield

Alex Oxlade-Chamberlain scored as Arsenal won the Community Shield with a 1-0 victory over Chelsea, with Arsene Wenger finally beating Jose Mourinho.

Angel Di Maria poised for medical ahead of move to PSG

Angel Di Maria is set to undergo a medical with Paris Saint-Germain ahead of a proposed £44m move from Manchester United.

Mourinho plans to manage into his 70s

Chelsea boss Jose Mourinho believes he is a better manager than he was 10 years ago - and he wants to continue until he's in his 70s.

Mail Box

Neville Has It Wrong On Chelsea...

One Mailboxer says that the Neviller has it slightly wrong on Chelsea. Plus thoughts on sexy Saints, pre-season reviews, Connor Wickham and televised analysis...

De Gea Disrespectful? Remember RVP...

We got dozens of mails from people pointing and laughing at Brian D for suggesting David de Gea has acted disrespectfully; we printed some. And there's more...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company