Charlton Athletic made an operating loss of just under £7.5m in its League 1 promotion season, compared with £6.13m the preceding season according to accounts lodged at Companies House. Profit of just over £1m on the disposal of players reduced the operating loss to £6.45m. However, the preceding year, £2.8m in profit was realised from player sales, reducing the operating loss to £3.3m.
Charlton Athletic made an operating loss of just under £7.5m in its League 1 promotion season, compared with £6.13m the preceding season according to accounts lodged at Companies House. Profit of just over £1m on the disposal of players reduced the operating loss to £6.45m. However, the preceding year, £2.8m in profit was realised from player sales, reducing the operating loss to £3.3m.
Turnover increased by 2.4 per cent or £202,000 to £8.549m, largely due to an increase in match day ticket and hospitality sales. Attendances increased by 12 per cent from 15,582 to 17,428, a club record in the third tier. Ticket income and match day activities accounted for 60 per cent of revenue, followed by commercial revenue at 22 per cent. The amounts realised from commercial activities and broadcasting were down slightly.
An area of concern is that staff costs amounted to 104 per cent of turnover. The figure recommended by Deloitte Sports Business is 50 per cent, but few clubs achieve that. Many Premiership clubs have ratios in the seventies and eighties and this figure puts the Addicks at the higher end of the spectrum.
The company had total bank loans of £5.77m. An amount of £9.94m (£2.6m in 2011) is owed to the immediate parent company, Baton 2010 Limited. The company’s utimate holding company is CAFC Holdings Limited, a company registerered in the British Virgin Islands. The identity of the club’s ultimate benefactors is thus unknown.