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Edinburgh Live
Edinburgh Live
Sport
Blair Meikle

Hibs announce profits of nearly £1m as fans thanked for 'continued support'

Hibs have announced profits of nearly £1 million over the past year.

Accounts show the Hibees had a healthy financial year despite Covid troubles.

The Easter Road side's net profit checked in at £919,000, a good turnaround from the previous year's figure - a loss of £1.23m.

The Leith men's cash position rose from £5.36m to £6.95m - a figure helped greatly by the £2.88m Covid loan granted to all Premiership clubs by the Scottish government and an insurance payout of £2.15m.

Other headline figures include a slight turnover fall of four per cent from £8.93m to £8.5m, with reduced gate receipts playing a major factor in those numbers.

However, operating costs reduced by three per cent to almost offset the reduced cash flow as cut backs on matchday expenditure and staffing saw outgoings check in at £10.5m.

The Hibees annual general meeting takes place on March 3 at Easter Road as chairman Ron Gordon provided shareholders with the financial figures and club update in a letter.

In it Gordon thanked the Hibees faithful for their "continued support".

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