Terriers reveal profit in latest club accounts
HUDDERSFIELD Town’s financial accounts for the 2020/21 season have been published via Companies’ House, giving a snapshot of the club’s position coming into the current season.
The club’s financial year runs from July 1 to June 30 each year, meaning each set of accounts roughly covers one season each.
And despite a significant drop in club revenues, thanks largely to the effects of playing the full season behind closed doors due to Covid, the club have actually posted a £2.6million profit in the most recent financial year.
There is more to it than that to digest, though, so here we will take you through the headline items in Town’s accounts. £2.4m to £900,000
■ Communications revenues rose from £115,000 to £484,000. We suspect this may include sales of match streaming passes via iFollow
■ Retail revenues fell from £1m to £600,000
■ Lotteries revenues
£414,000 to £282,000
■ Catering revenues
£77,000 to £103,000.
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rose from club during the 2020/21 season.
Hoyle is of course currently in the process of taking back full control of the club.
Town received a £500,000 loan from a ‘related party’ in the 2020/21 financial year. This would appear to be an investment made in the club by Hodgkinson via one of his other companies, most of which have since gone into administration.
As of June 2021, that figure appears to be the totality of the investment Hodgkinson has made in the club in the form of loans, although he may also have put money in via other means – in the form of sponsorship money, for instance.
The club’s cash balance dropped from £10.6m in June 2020 to £1.3m in June 2021. The overall effect is that Town’s net debt as of June 2021 totalled £48.9m – slightly lower than the previous year’s net debt figure of £50.4m. players acquired during the club’s time in the Premier League. That puts Town’s wages-to-turnover ratio at 55%, one of the lowest in the division and 2% less than last season.
However, that is still around £3m more than Town spent on wages during their promotion season in 2016/17, when the figure came out at £21.7m – a number that was vastly inflated by a substantial round of promotion bonuses. The prior year’s figure (2015/16) had been £11m.
When the current season’s accounts come out next year, we can expect to see the wage bill fall substantially again, with Jonathan Hogg now the only senior player remaining from the club’s spell in the Premier League following the departures of (relatively) highly-paid players like Christopher Schindler and Alex Pritchard last summer.