St Helens announce small profit for 2018
Photo courtesy of Richard Long
St Helens have announced a profit of £19,000 before interest and depreciation for the financial year ending in October 2018.
The small profit comes after the club recently announced major capitalisation of shareholders’ loans into permanent equity capital.
The Saints have capitalised on converting loans into a permanent fix as they look to improve the club’s profitability and cashflow moving forward.
St Helens chairman Eamonn McManus said: “This was a satisfactory financial performance considering we did not reach any finals last year.
“We would anticipate a materially improved underlying financial performance in 2019 and further improvements in 2020 and beyond, reflecting on the restructuring of the balance sheet in 2019 and the capitalisation of directors loans.
“The club is very soundly positioned going forward in terms of both assets and profitability.”
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