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

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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."

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ony Barrett knows his onions, quality journalist. If he says its b*ll*cks, it is. Unfortunately.

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eah, that'll do nicely. Guess they're feeling pretty flush after the World Cup and see a few successful years ahead with our new manager. Get Vidal in asap now, and let's get things back on track.

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worry about these types of conclusions on a teams brilliance when it was very clear that Argentina had 4 chances where they really should have scored and on chances alone then it would have been the more pragmatic Argentinians who would be the best in the world. I like the Germany team but this just shows that even with planning it relies on a great deal of luck and finding your opponents at just the right time.

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Reward At Last For Years Of Careful Planning

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