Figures reveal £1.3m loss of income due to pandemic

POMPEY WERE denied £1.3m in income after the coronavirus crisis wrecked last season.

That’s the price of a curtailed 2019-20 campaign and postponed Wembley visit, according to accounts lodged with Companies House.

The Blues recorded a £259,950 profit for the 12 months up to June 30, 2020.

In terms of turnover, the club posted £11.28m, a drop of £294,728 from the previous year.

However, they would have comfortably exceeded that figure had coronavirus not intervened from mid-March 2020.

Pompey were left counting the cost of missed opportunities following the cancellation of four League One matches at Fratton Park.

In addition, refunds were required for the cancelled Bury fixture, following the Lancashire club’s liquidation.

In the accounts’ Strategic Report, under the section ‘Trading performance’, it is detailed the absence of

those five home matches cost £700,000 in lost ticket income.

In regards to the impact of national lockdown upon all areas of the Blues’ business, the club estimate it missed out on £200,000 income from commercial, hospitality and merchandising operations.

Elsewhere, Pompey had sold 55,000 tickets for the April 2020 Leasing.com Trophy final against Salford. According to the Strategic Report, the Wembley fixture’s subsequent postponement cost the Blues £400,000 in net revenue.

However, lost income was partly offset by receiving coronavirus job retention scheme grants and rates.

More commonly referred to as furlough grants, this totalled £520,406 being collected by Pompey.

Furthermore, the accounts detail other costs related to coronavirus have impacted upon the club’s financial performance including ‘PPE equipment, additional cleaning costs and operational changes to enable us to resume football operations in a safe environment in June 2020 in time for the play-offs’.