Shrewsbury Town accounts 2018/19 – club post profit of more than £2million
Shrewsbury Town made a profit of more than £2.25million, their latest set of accounts have revealed.
The League One club's profit at the end of the 2018/19 season was a huge increase on the previous year – up from just £340,000.
Shrewsbury made a huge operating income of £3.8m thanks to significant player sales and sell-on clauses. Operating income the previous year was nil.
That sum includes the sales of key players Jon Nolan and Toto Nsiala to then-Championship side Ipswich Town as former manager Paul Hurst signed the duo shortly after leaving Montgomery Waters Meadow for Portman Road.
It also includes funds from Rangers and Stoke City for the signings of Conor Goldson and Ryan Woods, owing to sell-on fees Town had placed on the pair when they were sold to Brighton and Brentford respectively in 2015.
The accounts also revealed the club had a decrease in turnover of £1.2m alongside an increase in costs of £700,000.
Town continue in the third tier of English football with no debt and £2.7m in the bank – which is down £200,000 from 12 months prior.
No salaries or dividend payments were made to any of the club's directors during the period.
There will be no AGM this year due to the current coronavirus pandemic.