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SBD Global/October 26, 2012/Finance

SPL Club Dundee United Reduces Debts, Posts Net Profit Of $2.2M

Scottish Premier League Dundee United's financial results for the year to June show the club posted a profit of £1.45M ($2.2M), with "bank debt and directors' loans having been reduced," according to the BBC. Revenue suffered a 3% fall to £5M ($8M), and the percentage of wages to turnover ratio increased from 74% to 76%. United Chair Stephen Thompson feels the SPL is "thriving" despite Rangers' absence. Speaking on Dundee's website, however, Thompson said: "The current and forecast economic situation continues to present challenges, and whilst the board remains committed to ensuring a team capable of producing performances on the park and entertaining the supporters, we must also ensure that a prudent fiscal policy is maintained." Dundee reduced its bank debt from £5.4M to £3.93M ($8.7M to $6.3M) and said that a £225,000 ($362,000) reduction was made in July (BBC, 10/25).
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