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Hibs announce increase of debt to £6.4m

54andcounting

By 54andcounting
in General Football Chat

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54andcounting

54andcounting 0

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Hibernian have reported a loss for the second year running as the club published its annual accounts.

 

The Edinburgh club did manage to cut staff costs but recorded a £900,000 loss before tax, the same level as the previous year.

 

Hibs now have a net debt of £6.4m, an increase of £500,000 from 2011.

 

The club reported turnover of £6.9m, down slightly, but slashed wages by £700,000, giving Hibs a wages to turnover ratio of 60%......

 

http://sport.stv.tv/football/201603-poor-performances-blamed-as-hibs-announce-increase-of-debt-to-64m/

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