A record turnover of £24.4 million failed to prevent Heart of Midlothian FC recording a loss of £400,000, according to the club’s latest set of accounts.
Figures, described by the club as “robust”, to the year end June 2025 showed revenue up by 21% compared to the previous 12 months, participation in the Conference League group phase a key factor in the increase.
Once again donations featured strongly in the financial results, a total of just under £6m having been received from benefactors and the Foundation of Hearts.
“FOH members continue to play a crucial role in the club’s ability to operate at a high level and we thank them, as well as our benefactors, for their ongoing backing,” the club said in a statement.
The loss, reduced from the previous year’s figure of £1.2m, came during a period which saw Hearts sack managers Steven Naismith and Neil Critchley, with the Jambos just missing out on the Conference League play-offs despite a strong start in their group.
Staff costs across the business rose by 16%, though there was a gain of more than £1.3m in player tradings, while gate receipts were up 12% on the previous year.
The balance sheet sits at £27.6m, which includes Tony Bloom’s £9.86m investment in June which was categorised as an “equity investment” and therefore “not reflected in the profit/loss figures shown in the income statement”.
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