Date: 30th November 2007 at 8:13pm
Written by:

Town`s Official website has announced that Grimsby have made annual trading losses of £251,691 for the year ending 31st May 2007.

Last seasons poor league performance and early exits in the cups has affected the gates and the income.

The club wrote off £573,796 the planning costs for Town`s relocation to the revenue reserves increasing the annual deficit to £857,513.

The planning of a new stadium has also been a facture and has been substantially more than budgeted for.

Following the losses and with the relocation, has well has ongoing repayments to the Inland Revenue has resulted in total cash outflow of £469,757, the club now requires further financial support from the Directors amounting to £ 465,000 during the year.

Despite the results and the achieving outline-planning consent for the new Stadium, this has allowed the directors to remain positive about the club’s future.