THE minutes from the latest Newport County AFC Supporters Trust board meeting report that the club made a profit of just under £200,000 during the 2017-2018 financial year.

County made a loss of £351,456 for the financial year ending June 2017.

The figures for the year up to June 2018 were significantly boosted by around £740,000 earned from the club’s run to the FA Cup fourth round.

The published minutes state: “The management accounts for the 2017-2018 financial year were received. Prior to audit, these show a £199,700 profit. Without the FA Cup run, the club would have recorded a £541,300 loss.”

The minutes also give an update on the results of the supporters’ survey on the future ownership model for the club.

“Colin Faulkner confirmed around 75 per cent of the 750 respondents were in favour of a ‘hybrid’ ownership model.

“Work is continuing on proposals to be presented at the supporters’ meeting on September 20.

“Faulkner also proposed a permanent Trust chair be appointed and this will be on the agenda of the next full board meeting.

“There are currently 1,400 active Trust members.”

Peter Madigan provided an update of the ongoing negotiations with the Welsh Rugby Union and the Dragons on “a number of Rodney Parade issues.”

The minutes state that: “Positive progress is being made” but that “the Trust cannot communicate further on these matters as to do so could be a business risk to the club.”

Directors Rob Santrwis, Simon Sadler and Neil Collier all resigned from the board over the summer and thanks were recorded for the contribution of all three.

The minutes concluded: “It was agreed that unity was now vital to ensure the Trust and the club move in the right direction.”