Club annual accounts released....

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Summary:

Norwich City have today released its annual report for the financial period ended 30 June 2021.

The group’s reported turnover for the period was £57.2m, lower than previous reporting period of 2019/20 (£119.4m). This was a result of a significant decrease in broadcasting revenue, with the club playing its football in the Sky Bet Championship for the duration of the 2020/21 season.

Budgeted income was significantly impacted over this period owing to the ongoing COVID-19 pandemic. This was largely a result of the club’s income from ticketing sales and catering being significantly reduced.

Ticketing revenue fell from £7.6m in the 2019/20 reporting period to £0.1m in 2020/21, whilst matchday and non-matchday catering income fell from £4.6m to £0.4m.

Pre-player trading, the group made an operating loss of £26.6m. However, as a result of significant profit on player trading, including a club record sale in this period, the group’s results show a profit before tax of £21.5m. Included in this period are the significant player sales of Jamal Lewis, Ben Godfrey and Emi Buendia.

Within this latest set of results wages represented 116 percent of turnover. This number was impacted by the reduction in income as a result of COVID-19, along with several promotion-related payments to players and staff following the club’s Sky Bet Championship-winning campaign. These bonus payments were accrued in line with when the achievement was made.

The club continues make significant investment in its infrastructure and facilities at both Carrow Road and the Lotus Training Centre.

A sum of £4.2m was invested in significant projects, including renovations of training pitches and the construction of the SoccerBot360 at the Lotus Training Centre and upgrading of stadium Wi-Fi and digital infrastructure at Carrow Road.

Over this period investment has also continued at The Nest, home of the club’s Community Sports Foundation. Through the club’s commitment to #BuildTheNest match-funding scheme, a second instalment of £250k was invested towards the building and upgrading of facilities at The Nest.

The full report of the club’s annual accounts for the period ended July 31, 2021 can be accessed by clicking here.

All shareholders will receive their copy of the group’s annual report over the coming days.

Posted By: DrDublin on October 27th 2021 at 09:03:04

Message Thread

Club annual accounts released.... (NCFC) - DrDublin, Oct 27, 09:03:04
- Accounts (NCFC) - letsbehavinyou, Oct 27, 10:29:28
- I bet there was still a queue for match day catering even when we were closed (n/m) (NCFC) - Augustus Pablo, Oct 27, 10:29:01
- Maybe this will stop these ridiculous posts about a lack of investment (NCFC) - Munich93, Oct 27, 10:01:53
  - Derby and Sheff Wed have kind of pulled the curtain back. (NCFC) - usacanary, Oct 27, 14:14:59
  - Nah (NCFC) - Cardiff Canary, Oct 27, 10:59:10
  - They’re are two distinct things (n/m) (NCFC) - SimonOTBC, Oct 27, 10:03:30
    - It’s a troll (n/m) (NCFC) - SCC 28, Oct 27, 10:23:56
      - I’d be careful not to stray into harassment territory (n/m) (NCFC) - Munich93, Oct 27, 11:00:04
        
        Just so weird (n/m) (NCFC) - SCC 28, Oct 27, 11:04:37
    - Exactly. No one is questioning we’re not a well run club. (n/m) (NCFC) - DH Yellow, Oct 27, 10:18:10
- Delia pocketing all the money (NCFC) - Charles21, Oct 27, 09:52:28
  - Yes That’s what I’ll be shouting again on Sunday x (n/m) (NCFC) - Nelsons final flanel, Oct 27, 10:22:10
- Looking forward to plenty of pinkun articles confusing profit and cash flow 😊 (n/m) (NCFC) - SimonOTBC, Oct 27, 09:33:12
- can you imagine the state of other clubs with no player sales or PL payments - brutal (n/m) (NCFC) - pinkney, Oct 27, 09:30:42
  - Yes, and they don't have a SoccerBot to sell on Gumtree later! (n/m) (NCFC) - BSE Canary, Oct 27, 09:34:06
    - "In good condition, buyer collects" (n/m) (NCFC) - inutero, Oct 27, 09:51:11
      - "First to see will buy" (n/m) (NCFC) - munter, Oct 27, 10:02:14
        
        "Certain features all unused such as Scoring and defending" (n/m) (NCFC) - usacanary, Oct 27, 16:45:32
- Wages... 116% of turnover 😕 (n/m) (NCFC) - Worthing Yellow, Oct 27, 09:04:49
  - If I recall from last time we went up... (NCFC) - mr carra, Oct 27, 11:10:20
    - Would still have been > 100% without bonuses apparently (n/m) (NCFC) - NxNW, Oct 27, 11:39:39
  - TV income ⬇️ £43m but wages cut by just £22m (n/m) (NCFC) - Henclrikus, Oct 27, 09:41:04
    - I haven’t read the detail, but is some of that drop in tv revenue.... (NCFC) - SimonOTBC, Oct 27, 09:42:34
      - I guess non match day events, hiring of meeting rooms, Yellows etc would have an impact (n/m) (NCFC) - Azteca, Oct 27, 10:05:52
      - Matchday income alone is prob £15m (NCFC) - Henclrikus, Oct 27, 09:53:58
  - Due to Covid that is. (n/m) (NCFC) - BSE Canary, Oct 27, 09:10:17
    - Yep empty stadiums no hospitality etc (n/m) (NCFC) - loz, Oct 27, 09:12:01

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