Losing out but making a profit

Aug 26 2008 by Gordon Bannerman, Perthshire Advertiser Tuesday

SAINTS chairman Geoff Brown yesterday reported a near £300,000 annual pre-tax profit and joked the Perth club should be investing in their own private hospital.

The Perth club’s bid to come flying from the blocks has been undermined by injuries to key personnel, including midfielder Jody Morris and skipper Kevin James. Now experienced defender Kevin Rutkiewicz has been hospitalised.

The latest healthy balance sheet follows hard on the heels of a £471,000 profit posted courtesy of runs to two cup semi-finals.

The £296,756 figure being reported to shareholders was largely down to another sparkling cup run, with manager Derek McInnes guiding the club into a memorable last four clash with Rangers.

Fulfil

Brown said: “I really enjoyed last season, even if we didn’t fulfil our objective of regaining SPL status.

“We won our first ever national trophy, the Challenge Cup, and overall it proved one of the most enjoyable seasons in my time here.”

Brown and the Perth board sanctioned investment over the summer on personnel identified by McInnes and while the last two results against Dunfermline and Partick have been hard to take, the chairman said: “Maybe our next investment should be in our own hospital facility.

“We seem to be cursed by injuries. It is extraordinary.”

Brown said “an ambitious signing policy” had been bankrolled by the cup profits, increased corporate usage of McDiarmid Park’s facilities and Burnley’s compensation cheque for previous boss Owen Coyle.

In his annual report, the chairman tells shareholders the club paid the price for “playing catch-up” in the league, going on to finish in third place.

Deficit

This season, they currently face a six-point deficit after four games.

Writing before the campaign got under way, Brown said he believed Saints had assembled a squad more than capable of challenging for promotion and was optimistic fans would have something to cheer this term.

“The manager has identified players and while no one has ever had a specific budget we have backed Derek McInnes over the summer,” he said.

“The manager has been using his contacts to bring in players we all hope will assist in achieving the club’s ambitions.”