Queens Accounts Show Almost Half Million Loss
Last updated : 01 March 2010 By Queens MAD
Financial reports conveyed to shareholders reveal Queens made a loss of almost half a miillion pounds for the financial year ending 31st May 2009
The accounts which will be presented to shareholders at the AGM scheduled for Monday 29th March at the Nith Hotel Glencaple are disappointing but will come as no surprise to many considering the financial climate,rising wages,disappointing attendances and a loss of rental revenue rom the vacant Tesco building adjacent to Palmerston.
Turnover is also down from £1,786,557 to £939,461 compared to 2008 mainly due to an early exit from the Scottish Cup.Further losses are predicted this financial year so there is mounting speculation that cuts will be announced at the AGM.
Both William J. Hewitson and Colin Rutherford are due for re-appointment as Directors at the AGM.
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