Dundee defy Armageddon
Despite two brushes with administration, with the second incurring a 25 point penalty that almost relegated them to the third tier, the Tayside outfit are in good financial health and looking for a second consecutive top six finish.
Promotion back to the top flight for the 2014/15 season saw income rise from £2.3m to £4m with losses down to £197,000 after a worrying £820,000 loss the previous season.
Dundee were the silent victims of the 2012 fiasco with the club pushed into the top flight with three weeks notice despite trailing in more than 20 points behind Ross County in the then First Division.
As the football authorities failed in their bid to catapult Sevco into the top flight Dundee stepped up and were promptly relegated.
Under Paul Hartley the First Division title was won at the end of the 2013/14 season with the benefits of promotion announced today.
After issueing their audited accounts the club stated: “The board have received and approved the audited accounts and are pleased to publish financial results for the year ending May 31 2015.
“The results reflect the investment made during the year in the playing staff, youth development and the infrastructure of the club. The loss for the year was £197k, a £600k improvement from last season and in line with the budgets set for the year.
“There was considerable increase in the turnover for the year to just over £4m compared with £2.3m in 2014. All areas of the club’s income showed an improvement, with gate receipts including season tickets up 128% and league income including television up by 81%.
“The return to the Premiership also meant an increase in the wages at the club. These increased by 58% although the wage-to-turnover ratio decreased by 7% to 73%.
“The board continue to seek and obtain increased trading revenues to allow further investment in all aspects of club operations.
“The board are also pleased to announce that in October 2015, Dundee Football Club introduced the living wage for all members of its full time staff.
“The continued financial support of the major shareholder FPS is appreciated by the board, as this provides the stability necessary for running a successful football club and contributes to our quest for sustained excellence.
“Finally, the directors would like to thank all the other stakeholders at the club, including supporters and staff, whose contributions are vital for the long term success of the club.”