For the sixth successive year, League 2 side Hereford United will record a profit, despite experiencing relegation from League 1 in the year covered by the accounts. In the year to 31 May 2009, Hereford made a profit of £26,899, well down on the £408,467 earned in th previous, promotion year. During the last six years Hereford have announced profits of almost £1.2m. The club is finalising a joint venture agreement with developers, Richardsons, which will account for United’s lomg-term debt and is in the process of securing a new, long lease on the ground.
For the sixth successive year, League 2 side Hereford United will record a profit, despite experiencing relegation from League 1 in the year covered by the accounts. In the year to 31 May 2009, Hereford made a profit of £26,899, well down on the £408,467 earned in th previous, promotion year. During the last six years Hereford have announced profits of almost £1.2m. The club is finalising a joint venture agreement with developers, Richardsons, which will account for United’s lomg-term debt and is in the process of securing a new, long lease on the ground.
However, chairman Graham Turner sounded a note of caution in these remarks. Attendances at mid-week games has been poor and the club could well be in the red at the end of this season.