Saturday, February 4, 2023

Hearts announce profit of £2.9million

Scottish PremiershipHeartsHearts announce profit of £2.9million
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Hearts have made a post-tax profit of nearly £3million in part thanks to donations from unnamed benefactors.

The club received £1million for player costs, in particular, Kyle Lafferty’s ill-fated £500k sale to Rangers. There was also an ‘exceptional donation’ of £2.25million to record a post-tax profit of £2.9million.

A club statement read: “From a financial perspective we have once again achieved our major objective which was to grow our revenues profitably.

“In particular, our turnover increased by over 20 per cent from £12.1m to £15.1m.

“This resulted partly from growth in our commercial income, aided by the new facilities in our main stand, and as a result of our successes in both the League and Scottish Cups.”

Owner Ann Budge said: “During the year, we received an exceptional £1m donation towards player costs from our benefactors, which allowed us to increase our playing budget for the year.

“Overall, we are delighted to report an operating profit of £1.6m, well in excess of our budget.”

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