Dunfermline Athletic

Annual General Meeting

Monday, 21st Feb 2011

The Annual General Meeting of Dunfermline Athletic Football Club was held on Monday 21st February 2011

Main Stand, East End Park

The Annual General Meeting of Dunfermline Athletic Football Club was held in the Kingdom Suite on Monday 21st February 2011. The Company's Financial Statements for the year to 31st May 2010 were presented to an audience of 19 shareholders with the Club represented by John Yorkston, Jim Leishman, Rodney Shearer and Bill Hodgins (Andrew Croxford from the auditors Thomson Cooper also at the top table).

They heard that the season 2009/2010 was an incredibly difficult one with all football clubs facing the perfect storm with challenging economic conditions coupled with one of the harshest winters for decades!

Chief Executive Bill Hodgins gave a presentation. Explained turnover was down by £800k due to lack of cup run (semi-final in 2009) and a 23% drop in season ticket sales. He blamed the recession for drop in season ticket sales although numbers are slightly better this season. Hospitality numbers continue to grow year on year.  He forecasted break even in year to May 2011.

Although the loss incurred was disappointing, the Club is forecasting a breakeven position by May of this year. That will be despite the recent match postponements etc. and our objective of promotion to the SPL is very much within our reach.

In the face of these challenges, the Club has been able to continue investment in the First team and the start to the 2010/11 season has been extremely positive.

There are exciting plans underway for our training and five-a-side facility at Pitreavie with the objective of replacing the existing artificial pitches and creating a full-size 3G pitch through partnerships with various government bodies.

In order to improve the focus on youth development, the Club has created a subsidiary company entirely devoted to youth football called Black and White (Dunfermline) Limited and all our efforts to encourage new players for the future will be channelled through this company.

In his tabled report Chairman John Yorkston took the opportunity on behalf of the Board to thank everyone for their support during a difficult twelve months and stressed that they remain as committed as ever to re-establishing our place in the top flight of Scottish football.

Average gate for year to 31 May 2010 was 2923, forecast to rise to 3566 for this season. Falkirk and Cowdenbeath in our division given as reasons.

Recognition of 50th anniversary of 1961 Scottish Cup winning team. Planned events
(1) at the Alhambra on 29 April (Royal Wedding Day) and
(2) Hall of Fame October 2011.

Two questions re the accounts. Brian Robertson asked if the club was up to date with its PAYE payments, and was assured that they were. A supplementary question about VAT payments was they would be up to date when the Scottish Cup money comes in.

Rodney Shearer then gave a fairly detailed report on the state of the pitch and explained that the game was off on Saturday as the pitch is holding so much water now it is acting 'like a sponge'. There are plans to lay new turf imminently on either side of the half way line which will look rather 'patchwork' but should see things through to the end of the season. Complete re-laying of the pitch planned for the summer.

Meeting closed at 8:00pm



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