Crewe Alexandra score turnover success as losses cut

Crewe Alexandra added almost £1m in turnover and slashed pre-tax losses by more than half during their latest financial year, according to newly filed documents.

The Railwaymen, who were promoted to League One at the end of the previous campaign, have reported a turnover of £4m for the 12 months to 31 July 2020, up from £3.1m.

Their pre-tax losses were also cut from £1.1m to £542,866 over the same period.

The results are the first since Crewe Alexandra’s majority shareholder Norman Hassall sold his stake in the club.

Hassall, who held 51% of the Alex’s shares since 2006 as Gresty Holdings (Crewe) Ltd, first joined the board in 1978.

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The club’s new parent company, Crewe Alexander Group, reported a turnover of £4.1m and pre-tax losses of £667,033 for the 13 months to 31 July 2020.

In a statement signed off by the board, the club said: “The results for the period were considered disappointing by the directors who anticipate an improvement in the 2020/21 football calendar year.

“The board of directors take this opportunity to thank all its staff for their continued commitment and dedication.

Business Live – North West