\n<\/p>\n
He told United’s website: “While the reported pre-tax loss of \u00a3636,000 will naturally draw attention, it’s important to note that this includes nearly \u00a3400,000 in accounting interest charges, which are notional, non-cash items.<\/p>\n
“The more meaningful measure of our underlying performance is EBITDA, which shows a profit of \u00a3204,501, our first profitable EBITDA since 2018. This marks a genuine turning point for the club and reflects the solid financial foundations now in place.”<\/p>\n
United’s wages-to-turnover ratio has also been reduced to 60%, down from 81% the previous year, the lowest level since 2013, “reflecting both strong revenue growth and effective cost management”.<\/p>\n
Meanwhile, total costs have been reduced by \u00a32m compared to the 2022\/23 Premiership season, with the current operating loss of \u00a3100,000 “a significant turnaround” from the \u00a34.3m loss during that previous top-flight campaign.<\/p>\n
United say the latest financial results continue “the positive trend that has prevailed since the restructuring of senior leadership at the club in 2023”.<\/p>\n
On the field of play, United’s goal was to “re-establish the club as a competitive force in the Premiership and to target a place in the top six” and this was achieved despite an overhaul of the squad, with 15 players departing after winning the Championship title.<\/p>\n
“The culmination of this was a final league position well above pre-season predictions, earning European qualification – a target which many considered ambitious at the start of the season,” they stated.<\/p>\n
Chairman Mark Ogren added: “I’m very pleased to report continued progress towards our goal of a self-sustaining football club alongside success on the pitch. <\/p>\n
“We’ve seen real progression across all areas of the club, both strategically and operationally, over the past two and a half years.”<\/p>\n<\/div>\n