The AGM of Newport County AFC took place at the Bisley Suite tonight, below is a short statement issued by the Board of Directors.
"In a tough financial climate it was pleasing that Newport County AFC almost doubled turnover, whilst at the same time managing to reduce operating losses during our first season back in the Football League.
"As we strive to become more sustainable for the good of the long term future of the football club, it is pleasing to see operating losses falling, but at the same time turnover increasing.
"We have also seen an improvement in our Net Debt position with the conversion of Loans to Equity from the two directors. Additional improvement has been made post balance sheet due to the conversion by Les Scadding of loans to equity further improving the net debt position.
"The board would like to take the opportunity to thank supporters for their continued support, it is very much appreciated by all at Newport County."