Norwich City’s year in the Premier League saw them move from the red into the black with a loss of £5.3m turned into a profit after tax of £9.4m. Income in 2015-16 jumped to just over £100m from £53.6m the previous years.
Norwich City’s year in the Premier League saw them move from the red into the black with a loss of £5.3m turned into a profit after tax of £9.4m. Income in 2015-16 jumped to just over £100m from £53.6m the previous years.
The importance of broadcasting revenues to that increase is shown by the fact that they accounted for 71 per cent of total income, up from £28.5m to £70.2m. Commercial revenue was relatively low by the standards of some clubs at just under £10m. Gate receipts increased marginally from £10.7m to £11.5m.
Wage costs were under control, decreasing from 67 per cent of turnover to 55 per cent, not far from the recommended 50 per cent level. However, the ratio can be expected to increase again this year. Player trading showed a deficit of £10.9m, up from £2.7m.
With the focus on strengthening the squad to secure a return to the Premier League, investments in the training ground at Colney and the Carrow Road ground have been deferred.