IT is often said that an organisation is in good shape when its annual meeting attracts few shareholders and business is completed in record time.

Despite a £314,133 loss, hopefully that was the case at Saints' yearly get-together last week, which was attended by less than 60 shareholders and lasted just 40 minutes.

Grand Final triumph in 1999, followed by soaring league form this season, meant a certain bouyancy of mood, but there is a price to be paid for on-field success as chairman Howard Morris explained.

"Saints made little from the game at Old Trafford, we are not much over the break-even figure of 7,100 for home gates - out of a population of 175,000 - and were unlucky to lose at Leeds on the first leg of the money-spinning Wembley trail.

"Admission charges will increase next season to bring us into line with other clubs. The balance sheet reflects a difficult trading year for Saints, but also shows the financial resources available to take the club to the new stadium.

"The reported loss was calculated before player movements and interest charges, but does not include £299,000 sponsorship income, while from the results angle Saints are still the best club in Super League," added Mr Morris.

Given the small attendance, questions from the floor were still varied and contentious, including the constant switching of match dates, 'freebie' admission to games, appointment of a chief executive, and the legal position regarding Ellery Hanley

All were fielded with aplomb by Howard Morris, who was re-appointed to the hot seat of chairman, while places on the board for Joe Spencer and Arthur Thomas were ratified, the latter after he had originally resigned.