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Palace Report £5m Overall Loss

Palace Report £5m Overall Loss

CPFC2010 have posted an overall loss of £5,290,590 for the year ending June 2011.

However fans shouldn't be overly concerned as the majority of the loss (over £4m) is classed as 'goodwill impairment' representing a decrease in certain items' value, so our real loss was only just over £1m.

However the accounts also show that turnover increased to just shy of £13m which shows the club is moving in the right direction, increasing our revenue and growing the brand.

Clearly these figures also don't include our Cup run this season, nor what should be an increase in revenue from an improved league position.

The Director's report states that Palace's overall aim is to achieve and maintain Premiership status and also to create a category one academy to push us further forward.

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Writer:Eddy Eagle
Date:Tuesday March 6 2012
Time: 8:55PM

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