- February 23, 2022
- Posted by: Bastion team
- Category: World News
Preston North End’s financial director Kevin Abbott has outlined concern over the club’s latest wage-turnover figure.
The Lilywhites paid wages of £216 for every £100 of income in the financial year of 2021, with the full report released on Companies House this week.
The overall figures show a loss of £13.5million up until June 2021, with PNE having played the entire previous league campaign behind-closed-doors. Due to the support of Trevor Hemmings CVO, who passed away in October 2021, and his family, PNE still have little debt.
Also included in the financial year were the final nine games to conclude the 2019/20 season, after the season was suspended for three months.
On the numbers, as part of the strategic report, Abbott wrote: “There are clearly a number of risks and uncertainties which could have a material impact on the company’s long-term performance. The directors consider the key risks to be the failure of the club to retain its Championship status together with the company’s continued ability to secure sufficient finance to fund its cashflow projections. These and other risks and uncertainties are monitored by the board on a regular basis.
“In the short term, the Covid pandemic has resulted in a significant impact on the company’s ability to trade and therefore its cash flow. This is mainly as a result of the club’s inability to admit supporters to the stadium to watch football matches.