LATEST NEWS: A loss of just under £200k in the last 12 months

Posh are financially reliant on chairman Darragh MacAnthony.

Posh are financially reliant on chairman Darragh MacAnthony.

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Peterborough United Football Club have reported an operating loss of £194,775 for the year ending June 30, 2016.

This figure compares favourably with the previous year when a loss of almost £2 million (£1.931, 932) was reported.

Turnover increased from £6,247,369 in the year ending June 30, 2015 to £6,314,330 in the latest accounts.

Overall staff costs were reduced by 11% in the same period.

Decreasing attendances have also impacted on the accounts.

Posh made £2,660,021 from the disposal of player registrations in the latest accounting period, which was up from £2,338,210 for the previous year.

The club remains reliant on the goodwill and financial backing of chairman Darragh MacAnthony who has now completed 10 years ownership of Posh.

At June 30, 2016 loans totalling just over £5 million were owed to DMA Holdings S.A, a company in which MacAnthony has a financial interest.

Posh have made a conscious decision to cut back on staffing costs, but the contribution and expertise of the media office, ticket office, commercial department and retail department were all praised in a report sent out to shareholders alongside the accounts.