Hereford FC Chairman, Chris Ammonds, has this evening addressed the club’s shareholders at an informal meeting at the MandM Edgar Street Stadium and provided an update on the results for the 2024/25 financial year (based on the unaudited accounts).
Thanks to a huge amount of work off the field and fantastic support from the club’s fans off it, in 2024/25 the club recorded a significant profit for the second season in a row.
The key driver to achieving the profit was another season of improved performances on the field, which eventually saw the Bulls finish just short of the play-offs after falling to defeat against Scunthorpe United on the last day of the season.
Performances on the field saw income levels in all areas remain at excellent and this fact once again demonstrates that on-field performance will almost always have the biggest impact on income levels at any football club.
Bulls Chairman, Chris Ammonds, said:
“It is very pleasing to confirm that our club recorded a profit for the 2024/25 financial year.
“I am incredibly proud of everyone who has played a part in achieving this result and would like to sincerely thank every individual involved – from the club staff, playing staff, coaching staff and volunteers, right through to the fans who support us week in and week out.
“A second successive profit means that the club’s reserves are now at the level they should be for a business of Hereford FC’s size, and also allowed us to invest around 50% of it to bolster the initial playing budget for this season when compared to the previous campaign.
“It’s important to once again state that as a club we can only spend what we ‘earn’, and that we cannot simply throw money at the football side in the hope that we will be successful. Just two years ago our reserves were down to around £5000 and we should never put ourselves in that position ever again.
“While I completely understand why fans get frustrated when they see clubs with smaller crowds attracting players from a higher level that we can’t move for, as long as we remain a club that lives within its means, we are always going to face challenges when competing with clubs who have individuals willing to invest a significant amount of their own money, with no expectation of a return.”
2024/25 Financial Year Highlights (all figures are approximate):
- Turnover (income) was £1,498,000
- Expenditure was £1,358,000
- Profit recorded was £140,000
- Club Shop profit up by 16% (compared to 2023/24)
- Profit from the bars decreased by 11% (mainly due to fewer home cup games when compared to 2023/24)
- Season Ticket revenue increased by 16% (compared to 2023/24)
- League match ticket revenue increased by 23% (compared to 2023/24)
At the end of the meeting, the Bulls Chairman also spoke about infrastructure projects that are having to be considered at the MandM Edgar Street Stadium and these are as follows:
Infrastructure projects being planned:
- Immediate work is required to lay concrete in 3 areas of the ground where there is currently gravel. This needs to be done by 31 March 2026, in line with a recent ground grading visit from the Football Foundation. Estimated costs for this work is around £20,000
- Replacement of the Merton Stand roof has been recommended within the next few years. Initial quotes suggest costs of at least £150,000
- The Hereford Suite roof needs renewing due to ongoing, intermittent leaks. Initial quotes suggest a cost of around £50,000
- The stadium PA and CCTV needs to be upgraded as the current systems are dated and almost obsolete. To replace the systems to the required standard is likely to cost more than £30,000
- Improvements required to the accessible facilities (particularly the toilets) and the medical provision. This work is likely to cost between £10,000 and £20,000.
