Hearts Publish Annual Report and Financial Statements

Hearts today published their annual accounts and despite the construction of the new main stand, the installation of a new hybrid pitch and an increase in expenditure on players, declared a profit of £1.8m.

Turnover has increased by £800,000 and gate receipts rose to over £1m. Staff costs rose to over £7m.

There was £400,000 income due to the sales of forwards Jamie Walker and Jose Goncalves while £2m was contributed to the club by benefactors whose names weren’t divulged. A further £1m was contributed in what was described as an ‘exceptional donation towards player costs’.

Club owner Ann Budge said:“It was a demanding year both on and off the pitch, but we faced and overcame the challenges by sticking to our values and to our long-term plan.”

Hearts financial report in full is available here