Hereford United report record loss of £422,472

First published in Sport

HEREFORD United have reported a record loss of £422,472 for the year to May 31, 2012.

The figure comfortably exceeds the previous worst figures in the club's history, when £318,372 was lost in the year ended May 31, 1995.

Shareholders at the club's annual meeting heard that the loss, which followed a profit of £431,601 the previous season, was in part attributable to a fall in transfer fees received and a drop in prize money.

In the previous year, the club had reached the FA Cup fourth round but in the period that the figures covered, they were knocked out in the competition's first round as well as being relegated from the Football League.

 

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