Chairman Jeff Bonser has today issued the following statement:
On behalf of the Board of Directors I am pleased to present the annual report and accounts for the year ended 31 May 2018.
For the 13th consecutive year I am able to announce a trading profit, this time of £9,000 (2017 - £215,000). Furthermore, our borrowings reduced significantly by £279,000 during the year.
On the pitch, it was a difficult season as we flirted with relegation but crucially managed to preserve our League One status. Ultimately, a series of poor results culminated in the Club parting company with team manager Jon Whitney back in March, with former player and fans’ favourite Dean Keates being installed as his successor once a compensation package had been agreed with Wrexham AFC.
There wasn’t too much to cheer about during the campaign but supporters came out in force on a late April Saturday afternoon to watch the team effectively secure safety following a 1-0 victory at home against Northampton Town, courtesy of a 92nd-minute winner scored by George Dobson.
Despite only being in situ for a short period of time, Dean has already made a significant impact at the Club and is putting his stamp on things. He has already brought in his own staff and is in the process of restructuring the football department, including the vital scouting system and recruitment network. Importantly, the players have really responded to him and I am incredibly optimistic for what the future holds.
Off the pitch, the Conference & Events, Commercial and Retail departments have all performed well, generating significant profits which were ploughed back into the core football business and we enjoyed our first full year of trading on the Midpoint M6 LED screens, which have been a resounding success.
As always, we have continued to enjoy fantastic support from all of our other commercial partners and sponsors. I would like to place on record my personal thanks to those organisations and individuals who have invested in the Club over the season and have contributed towards everything we as a Club are able to achieve.
In particular, I would like to thank Marstons, HomeServe, St Francis Group, Dains LLP, the Walsall FC Community Programme, the University of Wolverhampton, Tile Choice, SPV Group, Excel Print, Pom’s Kitchen & Deli, Codestorm and Bailey & Mackey Ltd for their ongoing support.
Once again, I would like to pay tribute to the Community team who enrich the lives of so many local people and of course my fellow board members and staff at the Banks’s Stadium for their ongoing commitment and dedication.
Finally, on behalf of everyone at Walsall Football Club, I would like to say a big thank you to the supporters. As always, they have been exceptional during what was a very tough season and I would like to assure them all that all of our efforts are focused on giving them a team and a Club to be proud of.
The full directors’ report and financial statements are available to download here
The Annual General Meeting for shareholders will take place in the Priory Lounge at the Banks’s Stadium at 9:00am on Monday 3rd December 2018.