That is up from just over £11m in 2023/24, which was Argyle's first campaign back in the Championship after their promotion as League One title winners. Turnover is also set to rise from 'roughly £25m' to £29m this term.
Hallett also stated that Argyle's losses for 2023/24 were around £2.4m, compared to £3.4m the previous year, as he spoke about the club's finances during a Plymouth Argyle Cornish Supporters' Association fans' forum in St Dennis on Monday night.
He pointed out, for context, that Argyle's turnover six years ago had been 'just over £8m' and £2.5m was spent on player wages.
Hallett told the fans' forum: "The accounts are out. Last year (2022/23) our loss was about £3.4m. That's profit and loss. This year (2023/24) it's going to be about £2.4m. We are going to show operating cash flow deficit of about three quarters of a million.
So, over two years, our cash flows have been slightly negative and the actual profit and loss is negative. That profit and loss, because we have been investing in the player pool, includes player amortisation.
This story is from the December 05, 2024 edition of The Herald.
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This story is from the December 05, 2024 edition of The Herald.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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