RAITH ROVERS have belatedly released their financial results for the year ended June 30, 2006.

The figures include the six months of trading prior to the December 2005 changes in ownership of controlling interest in the club.

Despite a 7% increase in revenue, coupled with cutbacks which included the wage bill being slashed by £100,000, an operating loss of £81,914 was still sustained by the Kirkcaldy outfit.

But the company had no bank borrowings at the balance sheet date and the loss was substantially down on the previous year’s figure of £311,716.

The board of directors hope to be in a position to publish accounts for the year ending June 30, 2007, in the autumn, while this year’s annual general meeting will be called as soon as the figures have been finalised.

Meanwhile, there was good news on the signing front from Stark’s Park yesterday with the confirmation that Craig Wilson has signed a two-year contract.

Wilson joined Raith on loan from Dunfermline last October and was hugely impressive in an unaccustomed right back, role earning him the Players’ Player of the Year award for last term.

Raith manager John McGlynn said, “I am delighted that Craig has decided to join us on a two-year contract—he played a big part in our surge up the league table in the second half of last season and was awarded the player of the year by his fellow players.

“This speaks volumes about the type of player that Craig is and also the type of character he is within the dressing room.

“I’m sure that Craig will go on to have another good season next season and will be a great help to us in our push for promotion.”

Marco Pelosi’s stay on loan for another season is also expected to be confirmed by the club after Rovers reached an agreement with Hearts for the defender earlier this month.