Caley Thistle have announced they cut their annual loss by more than 70% to £263,000 for the year ended May 2020.
Inverness held their annual general meeting at Caledonian Stadium on Tuesday night, which went ahead later than planned as a result of the Covid-19 pandemic.
Although the club again posted a six-figure loss, it represents a major drop in shortfall from the £892,000 figure at the end of the previous 2018-19 season.
Caley Jags had been second in the Championship when the 2019-20 campaign was curtailed due to coronavirus in March 2020, with only 27 matches out of 36 played.
That early shutdown denied Inverness a shot at promotion to the Premiership through the play-offs, with Inverness showing a drop in overall turnover of 11.4% from the previous year come the end of the shortened campaign.
The club’s league gate receipts were down by £309,000 from 2018-19, with the total league attendance dropping from 74,893 to 43,106, however retail went up by 20%.
Although chairman Ross Morrison accepts Caley Jags are still seeking “new pathways to a self-sustainable future,” he feels the Highlanders, who are currently top of the Championship, have made strong progress in navigating their way through the pandemic.
Morrison said: “The CEO and our directors have worked tremendously hard to secure new pathways to a self-sustainable future.
“We approached old and new faces to help us on this journey and while not all approaches were successful, we are pleased with the progress so far and the future continues to look promising and even bright, despite all the last 15 months have thrown at us.
“In unprecedented circumstances we have come a long way in the last year or so, faced down some extremely difficult circumstances and we are moving in the right direction as a club and a business.”
