The graph below shows the reported profits of Falkirk.
It is clear that the club is run very tightly. The profits and losses generally move very small amounts. The Brockville sale is the 2003 blip. The 2005 loss came from unexpected extra start up costs for Westfield, and from increased player bonuses from the promotion campaign.
Falkirk are taking in lots more revenue but are also having to pay out lots more to be in the SPL. The accounts show a steady decline in profits which must be worrying.
The total profit made over the 8 years shown is £2.2m, clearly mainly from the Brockville sale. Taking that out of the equation and the club has essentially broken even.
The figure for 2009 looks quite good, but this is an accounting blip. There is a very long, and convoluted explanation about the accounting issues concerning the change of ownership of Westfield. What the outcome of this for 2009 is is that there is a £927k one-off gain. Without that one-off the club would have lost roughly £800,000 in the year. The expectation of the directors is that there will be further losses for 2009-2010 season
