The financial statements for the year-ended 30 June 2018 were approved by the directors on 5th February and will be filed at Companies House in the next few days.
Copies have been emailed to shareholders who have provided email addresses, and copies have been sent in the post to shareholders who opted against electronic communications.
The financial statements report a pre-tax loss of £4.3m compared with £5.6m for the previous year. A further impairment of £59k of expenditure incurred on the new stadium was made in this financial year. The Board remains committed to the recovery of these costs.
Net income on trading in players was £270k income in the year to 30 June 2018 compared with a £174k loss in the previous year. This shows the club is reaping the rewards of a successful recruitment and development programme which will show further benefit in the year to 30 June 2019.
The player wage bill for the season was £3.0m (2017: £2.7m). This increase is in line with the average wage increase of League 1 of 12.7% this season.
If you are a shareholder and have not yet provided the club with your email address in order to receive your copy of the financial statements, please email Leanne Mayo on Leanne.mayo@scunthorpe-united.co.uk.