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Finance officer's statement on Saints figures
9:55am Friday 8th March 2013 in Sport
Saints' chief financial officer Gareth Rogers' full statement on the club's interim financial results for the Premier League, and the accounts for the 2011/12 season:
“Our first six months in the Barclays Premier League show the dramatic impact promotion has had on the Club. However, the significant increase in turnover has not deterred us from our stated aim of financial prudence in the top division.
"I am delighted to report the Club’s first profit without the aid of player trading since 2005 which demonstrates that prudence in football can be achieved whilst significant investment, both on and off the field, is still being made. Our wages to turnover ratio has also been reduced significantly and we strongly link remuneration to performance.
“Another pleasing aspect is that non-broadcasting revenues are up across the board, representing a culture shift in the way we do business as a Club. This is vital for our continuing success as, in the long term, our aim to challenge and compete with the top clubs in the division cannot rely solely on broadcasting income.
“Overall these are excellent results and back up the full year results from our promotion season in the npower Championship which was achieved on an underlying loss of only £2.4m, significantly down from the £11.5m loss that promotion from League One resulted in.”