A press release on the official Port Vale website reports that the Valiants are now trading close to a break-even figure following the board’s work to stabilise the club’s finances.During former Chairman Bill Bell’s regime, it was regularly reported that the Valiants were losing around £30,000 a week, so this news demonstrates a considerable financial achievement by the board.
Vale have reported a trading loss of £504,000, but that figure is substantially reduced when a £200,000 deficit for May and June 2003 – prior to the board taking over the club – is considered.
Chairman Bill Bratt is optimistic about the future telling the official Vale site that: “Our three-year financial plan is on course and this will give us the foundation to build a successful future for the club.”
Bratt added: “Building a steady and sound financial future will ensure survival and growth… though it will require patience from all of us.”
A copy of the club’s Annual Report and Accounts has been sent to every Port Vale shareholder.