Charlton had an operating loss of £256,000 a week last season in League One to take total historic losses to just under £60 million. Wages were £140 for every £100 of income, way above the 70 per cent level recommended by Uefa.
Katrien Miere's salary not disclosed as she was chief executive but not a director (she resigned during the financial year). Charlton paid redundancy costs of £374k in 2017/18.
In terms of player trading purchases were £310k and sales £4.4 million. The profit on player trading reduced the operating loss from £13.4m to £10.1m.
Match day income at £3.4m accounted for 46 per cent of the total. It was marginally up by 7 per cent from £3.2m. EFL and Premier League distributions fell by 21 per cent from £1.8m to £1.4m. The EFL distributions dropped from £1.2m to £0.7m and the Premier League solidarity payment increased from £0.6m to £0.7m.
Commercial income increased by 8 per cent to £1.4m, helped by the run in to the play offs. The strategic report states, 'Continued growth in commercial income is essential for the long-term sustainability of the Football Club.'
Charlton owed controversial Belgian owner Roland Duchatelet £62 million at end of 2017/18 and interest is clocking up on the loans at a modest 2%. Interest cost £770k for the season. The club is worth far less than the value of the outstanding loans which raises concerns about its longer term survival.
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