Preston could invest in squad amid good financial results

Image source, Rex Features

Preston鈥檚 financial results are so positive the club will be able to invest in the playing squad in January, chairman Craig Hemmings has hinted.

Deepdale PNE Holdings Limited, the club鈥檚 parent company, published its annual results for the financial year to 30 June on Monday.

Highlights included:

  • Turnover increasing from 拢15.6m to a record 拢16.9m. The third year in a row of record turnover.
  • The club's loss after tax was 拢9.9m, a 拢2.3m improvement year-on-year.
  • The club has seen trading improvements across all of its income streams 鈥 season cards and matchday ticket sales, plus all commercial and replica kit sales.
  • Average home attendance in 2023-24 reached a new high of 16,714 - the highest average attendance at Deepdale in 60 years.
  • On Boxing Day 2023 the club enjoyed the highest league crowd at Deepdale since the mid-1970s of 21,816, for a home victory against Leeds United.
  • In June the club鈥檚 owners converted 拢50m of outstanding debt/loans into equity, strengthening the club鈥檚 balance sheet.

Hemmings : 鈥淲hile ultimately the performance on the pitch is paramount to the club鈥檚 ambitions, success off the pitch has a direct effect on the opportunities we will have to improve the playing squad.

鈥淭o see the club achieve its highest ever revenue is very encouraging. This improved financial performance helps to create the much-needed headroom to further invest in the club鈥檚 facilities and squad."

He added: "Historically we had a great deal of success buying and selling players prior to the Covid pandemic and it remains our goal to repeat this philosophy as and when opportunities arise."