DORCHESTER Market has suffered another drop in income – continuing the trend of a steady decline over recent years.

Projected end of year figures are expected to be £14,000 lower than budget predictions.

The rents from the main Wednesday market are projected to have dropped from £81,000 to just under £70,000 with income from the Sunday car boot sales and the farmers market also less than anticipated.

The net profit from the main market is thought to be 25 per cent down compared to the previous year, which had also seen a fall.

But the venture is still a money earner for Dorset Council and Dorchester Town Council with the unitary authority expected to take £68,220 in income from it and the town council £36,734 after setting aside the car boot proceeds to donate to community organisations. Market managers also take a profit from the venture.

A report to the markets panel this week (Jan 29) says that while work has been done to try and improve the fortunes of the market the decline has continued: “Market revenues have been falling for many years owing to the changing pattern of retailing, internet purchasing, and general trends of markets failing to meet the requirements of younger shoppers,” said a report.

It says that when the lease was granted in 2001 to Ensors the lease rent was £194,000 a year, but for the last full year ending in March 2019 it had fallen to £77,500.

“The figures provided by Ensors for the first six months of 2019/20 show a further fall in revenue of 14%, a fall in expenditures of about 5% and a fall in net profit of 25% relative to the equivalent period last year. The revenue received by the car boot sale also declined over the same period by 11%.

“The higher fall in net profit compared to gross income is accounted by expenditure remaining fixed in certain areas. There is therefore a continuing medium level risk of profit decline unless a strategy can be identified to increase site revenues.”

Councillors are being asked to review the situation and report back with any new proposals that could reverse the market’s fortunes. It has previously carried out a face to face and online survey in an attempt to work out why the market continues to decline.