Dundee, Tuesday 7th February 2012 - Dundee FC's board of directors today published the latest set of Key Performance Indicators as part of their commitment to open and transparent financial reporting to the supporters and public at large.
The agreed measures of prudent financial management (KPIs) are as follows, and as at 31st December, the Board can confirm that:
1. Percentage of player' wages to turnover - the ratio was 43.3%, although this will rise from February onwards as the only significant revenue thereafter will be gate receipts and hospitality.
2. 95% of trade creditors due, excluding player debt and administrator’s fees, paid within 30 days - due to the holiday period, this target was missed at 31st December, but as of today all December creditors have now been paid.
All other KPIs (below) were achieved:
3. Confirmation that projected cash flow shows a positive position at season end
4. Confirmation of no debt to HMRC, i.e. all outstanding PAYE and NI liabilities and VAT liabilities are up to date
5. Confirmation of no bank debt
Additionally, half of the TV revenue received in January and the balance of the transfer fee for Craig Forsyth from Watford have been used to help clear players' compensation and it is now anticipated that the player debt will be cleared by February 2013.
The financial focus now turns to securing investment from new and already identified sources, to allow planning for next season, and the CEO and the board are pleased to confirm that one private investor has already injected a five figure sum.