FORFAR Athletic are on course to make a profit in the coming year after two successful seasons of posting a loss.
In a week when Rangers’ financial woes have gripped the headlines, the Loons annual general meeting learned that directors were hopeful of recording a profit in the region of £35,000 for the year ending May 31, 2012.
The accounts showed a loss of £18,351 for the year ended May 31, 2011, following on from a loss of £35,659 recorded the previous year, but the turn around in financial fortunes has put the club back in a positive situation with the bank.
Reflecting on the 2010/2011 season at the a.g.m. held at Station Park on Thursday evening, chairman Neill Wilson explained that the weather conditions of last winter hit the club hard.
“Our cup runs yielded very little in terms of revenue and that, along with the loss of so many Saturday games due to the weather, accounted for much of the deficit last year.
“In the present season, we earned a home cup game with Aberdeen, while we have also been able to make savings due to the fact we don’t have to go to the likes of Stranraer, Elgin City and Annan, and the fact that many of our players are more locally based.
“We are on target to show a profit for the current season, and, while our current league position is not where we want to be, hopefully we can start climbing the table in the weeks ahead, and consolidate our place in the Scottish second division.”
Looking ahead, Mr Wilson said it was highly likely that Forfar Athletic will be playing on a 3G artificial surface similar to the ones at Airdrie, Stenhousemuir and Alloa.
“The catalyst for this huge change is an award of £300,000 from Cash Back from Criminals to be shared between the Forfar Athletic youth set-up and Forfar Farmington Girls Football Club.
“Our present players are quite comfortable about playing on this type of surface as their home venue.”
The chairman added that, as in previous years, fund-raising continues unabated, with the regulars of Loons Lottery, sportsman’s dinner, ladies dinner, concerts, the golf day, hoardings, the Telecom mast and supporters’ club efforts all playing a part.
“Any new assistance or ideas will be made most welcome,” he told the meeting.
“The remedial work to the west terrace wall is complete and new toilets have been added to the east terrace and to the rear of the stand - all this being done with the assistance of grants from the Scottish Football Partnership.”