Tony Brown is delighted with Pompey’s finances after the latest figures were posted.
The Blues’ finance director has revealed operating losses from the 11 months to May 2014 are £90,976.
The results comprehensively outstrip the predictions for the first year of community ownership.
The club had actually budgeted for operating losses of £700,000 up until June 2014.
Yet that deficit has subsequently been slashed following a turnover of £5,902,555 since last summer.
Match income generated £3,343,225 and commercial revenue produced £1,593,311.
And after announcing the sums at Friday’s Pompey Supporters’ Trust shareholders’ meeting, Brown is delighted with the club’s progress.
He said: ‘It’s a brilliant achievement by everybody at the club.
‘The losses are £90,000 at the end of 11 months and there is still another month to go, nonetheless we are well above the original budget.
‘This has been achieved by improving on the commercial revenue streams across the business, by more fans coming than we expected and really getting behind the club.
‘There were also additional TV monies we hadn’t budgeted for, while we got the cost down to the market norms of a League One/League Two club.
‘The club was in administration for a year, the administrator (Trevor Birch) is a top, top man but his focus was on selling the club, not putting the procedures in place.
‘We’ve turned it around, though, and I must make special mention to Tanya Robins, who has been a true unsung hero and helped so much in revamping the operations.’