Swindon Town announce profits of over £150,000 for 2021/22

Swindon Town have announced profits of over £150,000 for the 2021/22 financial year as they have publicly released their accounts. Total Sport’s Joe Acklam reports on the accounts.

Swindon have confirmed that the club earned pre-tax profits of £158,137 for the most recent financial year, ending 31st May 2022, the previous year the club had lost £1,138,820.

A huge reason for this was that turnover increased by over £2,000,000, boosted courtesy of the Manchester City FA Cup tie and overall run in that competition, as without this injection the club would still have made a loss.

Chief Financial Officer, Greg Norman, said: “This is the first time the football club has disclosed its accounts in full, as we continue to be as open and transparent as we can.

“Although we are pleased with the significant progress that’s been made since Clem took over, it’s important to note there is still a lot to do to repair our finances.

“Without the boost of an FA Cup run this season, we would have made a loss, which illustrates the challenges we face in running a financially sustainable football club.

“This further highlights why the support of our fans in buying match and season tickets, merchandise and food, as well as the commercial revenue we generate from our respective sponsors and partners is vital, as we continue to work closely with Clem to build strong financial foundations for a brighter future.

“Fans have played a huge part in helping us get to where we are now, and I’d like to take this opportunity to thank them for their continued support, and hope they’ll keep backing us both on and off the pitch.”

The financial year has also seen the club’s debts fall from £7.1 million down to £4.3 million, with Clem Morfuni providing the funds to pay off the remaining deficit.

Additionally, the amount owed to HM Revenues and Customs has fallen and now stands at £680,000.

The full accounts document is available on the club’s website.