Shrewsbury Town sees losses increase by £800k as turnover falls by £1.9m

The club made a loss of £1.5 million for the year to June 30 2021, up from £700,00 the year before.

The League One club said the increase in loss was due to a fall in turnover of £1.9 million.

This was down to a significant reduction in ticketing income by £1.3 million, which would be mainly due to the impact of the Government’s Covid restrictions which limited the number of supporters able to attend games.

Food and drink sales were "virtually obliterated" in the period, the club added in its newly-published accounts.

But TV and internet portal income increased from £248,000 in 2020 to £353,000 in 2021.

The club reported a reduction in costs of £600,000 and an increase in other operating income of £500,000. It also received income of £400,000 from the Premier League during the year.

The club continues to have no debt and held £2.3 million cash in the bank as of June 30 2021, compared with £3.3 million a year before.

Directors did not take a salary or dividend payments from the club consistent with prior years.

The full force of the pandemic has been felt in the club's last two full-year accounts. In that time, Town has also missed out on vital income from its events and conferencing department, which would normally run 365 days each year.

Supporters’ Parliament chairman Mike Davis said: "Looking around the leagues and other clubs, I don't think anybody is surprised we have made a loss with no fans in the ground.

"Having no hospitality has had a huge knock-on effect as well. Shrewsbury Town is not just a club that plays at home every other Saturday, it is a 365 days a year business.

"The figures are better than I expected and it goes to show how well the club is being run. We sill have money in the bank and remain debt free.

"The club has also had a huge help from supporters who have left money in for season tickets.

"Whilst the figures aren't sustainable long-term, it is good to see we have not been stupid with our money, and going forward it will hopefully mean we will come out of this a lot stronger."

Town currently sit 15th in League One and prepare to visit MK Dons on Saturday following a three-match winning streak.

"Although not yet mathematically safe, I am hoping for a strong finish to the season. Results have picked up in the last month or so. Let's see where we can finish and start building for next season, both on and off the pitch," Mr Davis added.