Gilllingham’s financial statement for the 2023/24 season – the Galinsons’ first full season at the League 2 club sees a £4.3m pre-tax loss but increase in turnover to £8.2m

Gillingham’s latest financial report for the 2023/24 season has revealed a pre-tax loss of £4.3m but turnover is up.

The financial report for the year up to June 30, 2024 stated that the club increased their turnover, up from £6.3m to £8.22m. Chairman Brad Galinson invested by way of a £2.2m loan and a non-repayable £1.3m donation.

More: Season ticket prices good news for fans

Gillingham’s League 2 rivals Salford City lost over £5.3m while Doncaster Rovers posted losses of £3m for the same period - taking their total losses to over £38.5m. Port Vale lost £3.8m.

Stockport County were League 2 champions in 2023/24 seasons and their stated financial figures reveal a loss of £7m that season.

Meanwhile, in the Premier League, Aston Villa had an £85m loss in 23/24.

Gillingham’s latest accounts are for 13 months rather than the normal 12 as the accounting period was extended from the end of May to the end of June. Subsequent years will now end on the same day and month.

The 2023/24 season saw the Gills finish 12th in the table - a season that started promisingly under Neil Harris before a poor run of form saw him replaced by Stephen Clemence, who found himself out of a job at the end of the campaign after falling short of a top-seven finish.

It was the first full season under the Galinsons and ended with a pre-tax loss of £4,347,545 - a two-fold increase from the £2.1m figure the year before.

Shareholders’ funds rose from just over £600,000 to £3.6m.

The increase in revenue to just over £8m came thanks largely to a big rise in commercial and catering sales - figures showing a 92% increase

Commercial revenue went up from £925,000 to £1.85m, while the club shop, that had been closed after the Covid pandemic, was reopened in a