Walsall FC today announced a trading profit for the third consecutive year.
The club reported to shareholders a profit of £408,000 for the year ending May 31, 2008.
In a statement, chairman Jeff Bonser emphasised that his insistence on sound financial management had enabled the club to avoid the pitfalls of overspending that had caused a number of clubs to go into administration and, as a consequence, have a points penalty imposed.
Bonser also criticised those clubs who spend beyond their means, which he saw as ‘seeking to gain an unfair advantage over their competitors’, and he used his statement to answer those critics who claim that the club lacked ambition.
In particular, he described the opening of the club’s new training ground in Broad Lane, Essington as ‘a major step forward for the club’ and one that will have a positive impact on the recruitment and development of players.
The AGM will be held at the Banks’s Stadium on Monday from 9am.