Canaries accounts reveal losses

Last updated : 07 January 2010 By Team Talk

In accounts published up to May 31, 2009 the club showed an operating loss of £4.1million before tax which was not helped by a dip in player sales from £3.5million in 2008 to just £900,000.

Chairman Alan Bowkett said: "As we forecasted, trading in 2009 was difficult.

"I am pleased to say that we are operating within forecast for the current season but there remain balance sheet matters which need to be addressed.

"We have models going forward which show us to be cash positive both in League One and the Championship - which is of course where we aim to be as soon as possible."

Source: Team Talk

Source: Team Talk