Falkirk chairman Margaret Lang up for re-election at AGM

Falkirk shareholders will be presented with a review of the club's strategy at the '¨annual general meeting on Wednesday.

By The Newsroom
Monday, 17th December 2018, 10:07 pm
Updated Tuesday, 18th December 2018, 12:16 am
The AGM will take place at The Falkirk Stadium on Wednesday. Picture Michael Gillen
The AGM will take place at The Falkirk Stadium on Wednesday. Picture Michael Gillen

Much has changed in the past 18 months at the Bairns following managerial ins-and-outs, academy closures and financial reviews.

An update on the club’s machinations and aims will be delivered at the AGM next week, as well as the company accounts which detail a club profit for the year to May 31, 2018 of £143,261 and an increase of turnover to just shy of £2.8m.

In the chairman’s comments Margaret Lang says: “Decisions taken in the past 12-18 months have not been easy, but they have been necessary in relation to football and non-football matters. This period has led us to review our club strategy and the agreed form will be presented at the AGM.”

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"Our review identified substantial cost savings and income improvements," said chairman Margaret Lang's remarks in the annual accounts. Picture Michael Gillen.

She added: “The poor financial performance of the club led to a full financial review in December 2017.

“Over the past few seasons our cost to income ratio had become unsustainably high for a club of our size and unless radical action was taken then it would place the operation of the football club at real risk within the remaining months of season 2017/18.

“Our review identified the need to find substantial cost savings and income improvements within three to six months. This was to ensure liquidity to the end of the season and to enable a break even budget be put in place for 2018/19.

“As part of this review a decision was taken to cease finding of the Forth Valley Football Academy... it could no longer be sustainably supported by the club given the current fionancial position.

A lack of success on the pitch led to a review off it. Picture Michael Gillen.

“Our current financial position has strengthened considerably and we are able to look forward to the January 2019 transfer window with confidence in being able to support Ray McKinnon. All areas of the club are performing ahead of last year.”

The Bairns also had accrued more cash at the bank – up £175,000 year-on-year to £631,132.

Mrs Lang is also up for re-election to the board following her first three-year term as a director. She succeeded Doug Henderson as chairman in June 2017.

The meeting begins at 7pm.

Mrs Lang is back up for election to the baord. Picture Michael Gillen.