Mark Catlin has revealed Pompey’s losses are considerably lower than anticipated during their first year under community ownership.
Speaking at the Pompey Supporters Trust’s ‘One Year On’ event last night, the Blues chief executive announced the club is heading for a deficit of £300,000.
That is compared to losses of £750,000 originally budgeted for after taking over on April 19, 2013.
Around 350 people packed into the Victory Lounge at the Fratton Park meeting to hear the latest on club finances.
And Catlin was positive over the club’s achievements off the field of play.
He said: ‘We are heading for £300,000, compared to £750,000 (both deficits) originally budgeted for.
‘Obviously lessons have been learned, the business that is a football club is completely different to any normal business and each club has different goals and conditions.
‘Our off-field business performance is extremely robust compared to the original business plan and we are confident this will remain the case in our second year.’
Chairman Iain McInnes was present at the event, along with the Trust’s board, caretaker boss Andy Awford and midfielder Danny Hollands.
The MP for Portsmouth North, Penny Mordaunt read telegrams of congratulations from Prime Minister David Cameron and Minister for Portsmouth Michael Fallon.
Meanwhile, Portsmouth City Council leader Gerald Vernon-Jackson announced the Trust are to receive the city’s civic award in recognition of capturing the club.
– NEIL ALLEN