Shrewsbury Town reveal loss in their latest set of financial accounts

The accounts cover last season's 2023-24 campaign, which saw Salop avoid League One relegation on the penultimate day of the campaign under Paul Hurst. The club reduced their losses by £1.5 million compared to the 12 months prior. 

Just under a year ago, in March 2024, in the accounts for the 2022-23 season, Shrewsbury plunged into the red after they recorded an operating loss of £3.1 million - which was described by the chairman of almost three decades, Roland Wycherley, as 'the most challenging and difficult' time of his tenure. 

But the club, led by Wycherley, vice-chairman Duncan Montgomery and chief executive Liam Dooley, have worked hard over the last 12 months to repair some of the financial bleeding. 

The recovery is down to an £800,000 increase in income and an £700,000 reduction in costs. 

One of the big reasons income has risen is due to the increase in money made from ticket sales. 

In 2023, Shrewsbury made £1,597,530 from their ticket sales, while in 2024, that increased by almost £400,000 as they made £1,983,714. 

The reduction in costs came predominantly from a smaller wage bill. That shrunk by almost £350,000 from 2023 to 2024. 

The staff bill, which includes players' wages, steward costs, security and administrative staff, was £5,232,909 in 2023, but it fell to £4,889,589 in 2024. 

Town continue to have no debt, but their cash reserves are still very low - they have £96,000 in the bank, as of June 2024. 

At the end of the 2023 campaign, their cash reserves had fallen to £81,000 in the bank, compared to more than £1.5m they had 12 months earlier. 

It is well known Wycherley and Montgomery have been pumping money into the club to keep it afloat. The duo loaned a further £2 million to Shrewsbury during the duration of the 2023-24 campaign - all interest-free.

Shrewsbury have also made an improvement in their on-field performance in recent months as they won back-to-back games for the first time in two years just last week.

They have collected seven points from the last nine available and they now have six home games coming up in their next eight third-tier fixtures. 

That starts with Bolton's visit to the Croud Meadow.