Championship club returns to profitability with £23m rise

Sheffield Wednesday Football Club has reported a return to profitability, boosting its results by more than £23m.

This morning publishing it accounts for the year ended 31 July 2018 on Companies House, SWFC reported pre-tax profits of £2.5m – a £23.4m improvement on the pre-tax losses of £20.7m reported in the previous year.

The Hillsborough-based club, which this week confirmed its manager Steve Bruce is to leave the club after joining earlier this year, also said it had turned over £23.3m, increasing from the £25.2m achieved in 2017. The club added two months onto its accounting year, which previously ended in May.

Average league attendance fell to 25,939 in the 2017-18 season (2016-17: 27,306) as the club finished 15th in the championship, dropping from a fourth place finish in 2016-17.

Its match receipts totalled £18.1m for the 2018 accounting period; up from £16.8m in 2017. Commercial activities brought in £7.1m for the club, a rise from £6.5m in the previous year.

The club added that it had been a “hugely successful year” for Corporate Social Responsibility, with community work going from “strength to strength.” SWFC added that it reached more than 100,000 young people and families in the community, adding it created “one of the most wide-ranging community programmes not only in football, but throughout sport.”

In the latest 2018-19 season, The Owls finished 12th in the Championship and had a change of manager from Jos Luhukay to Steve Bruce. Thai businessman Dejphon Chansiri bought the Owls in 2015.