Hibernian post more losses

Hibernian post more losses

Published Nov. 20, 2012 1:15 p.m. ET

Wolves have won their appeal against Christophe Berra's red card during Saturday's 2-1 defeat at Watford.

The central defender was sent off in the 25th minute at Vicarage Road after tangling with Hornets striker Troy Deeney.

Berra appeared to be holding back Deeney as he burst through on goal, and was dismissed for "denying an obvious goalscoring opportunity".

Wolves launched an appeal against the decision and a meeting of the FA Regulatory Commission agreed that it was a case of wrongful dismissal.

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Berra will now not serve a one-match ban and will be available for Saturday's Championship game against Nottingham Forest at Molineux.

Wolves boss Stale Solbakken was enraged by the decision, and he said after the game: "I think I agree with everyone who says it's a very harsh one.

"There's no appeals from anyone, from a Watford player or even the dugout, and I think the referee just created a problem for himself after that."

The figures for the year ending July 31 also revealed that the club's debt has risen to ?6.4million.

Hibs reported "a much lower level of player trading income," with gains down ?800,000 from the previous year to ?100,000.

Turnover reduced slightly to ?6.9million, while staff costs fell by ?700,000 to ?4.1million, resulting in a wages to turnover ratio of 60%, which itself was down from 69% for the previous year.

Chairman Rod Petrie said: "The financial results for the year reflect the poor performances on the pitch almost throughout the season.

"The one sporting high of reaching the final of the Scottish Cup turned sour in the manner of the defeat.

"The club apologised to supporters for the lack of a performance on the day but now have the chance to atone for that defeat in this year's competition.

"It is disappointing to report a loss for the year."

Hibs finished second bottom last season but results have improved so far this term and they sit second in the Clydesdale Bank Premier League, a point behind champions Celtic.

Petrie added: "The manager has rebuilt the team. Now the club is working closely with supporters to rebuild attendances at Easter Road Stadium and improve revenues for the current year despite the economic hardship that affects everyone."

The Annual General Meeting for shareholders will be held at Easter Road on December 10.

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