Article Taxonomy: Financial Results

Articles on football club company financial results – interim or full-year.

Big profit at Newcastle

by

Newcastle have announced a post-tax profit of £9.9m for the year ending June 2013. The figure represents an £8.5m increase in profit on the previous 12 months and, according to Newcastle, is down to “player trading, a strong commercial performance and a significant reduction in operational losses”. This is the third profitable year in a row for owner Mike Ashley.

Newcastle made a £10.6m profit on player sales, the bulk of which came from the sale of Demba Ba to Chelsea, although £28.7m was paid in transfer fees on the likes of Mathieu Debuchy, Yoan Gouffran and Moussa Sissoko.

United announce good results off the pitch

by

Manchester United may have been struggling by their standards on the pitch recently, but they continue to be a considerable financial success. The results issued today relate to the club’s second fiscal quarter, i.e., the last three months of 2013. Pre-tax profits were £30.3m compared with £28.4m this time last year.

Seagulls post big loss

by

The cost of chasing a place in the Premier League has been emphasised yet again after Brighton and Hove Albion posted a loss of £14.7m for last season, an increase of over £6m on the previous year’s deficit, despite boasting the highest average attendance in the Championship.

Things look up for Raith

by

They’ll be dancing in the streets of Raith after the annual general meeting of Raith Rovers reported an improved financial picture. The Kirkcaldy club is supported by former prime minister Gordon Brown who is the local MP.

The club presented its annual accounts for the year to June 2013, which showed a profit of £81,350 – the first time the club has returned a profit since the formation of New Raith Rovers in 2005.

The price of promotion

by

Newport County lost £350,000 chasing the dream of rejoining the Football League but the club expects to see a big boost to revenue streams during this financial year. This week’s annual general meeting revealed considerable detail about the finances of a League 2, formerly Conference, club.

Manchester City halve losses

by

Manchester City say they have almost halved their losses for the second consecutive season, posting a net loss of £51.6m, down from £97.9m. The report for 2012-13 also reveals the club generated an annual turnover of £271m, second highest in the league.

This was despite wages rising from £201.7m to £231.3m, a figure that is believed to have been swollen by a huge, undisclosed payment to Roberto Mancini who was sacked as manager in May last year.

Cardiff City lost £30m

by

Cardiff City lost £30 million in the season they were promoted to the Premier League, latest accounts reveal. The club’s overall debt has risen to a £118m, with just over half, £66m, owed to owner Vincent Tan.

But Cardiff chairman Mehmet Dalman said the club was on course to becoming debt free. Mr Dalman said Malaysian billionaire owner Mr Tan had put up to £150m into the club since 2010.

Wigan record small profit

by

Some of the other financial results released on New Year’s Eve contained bad news, so Wigan Athletic can congratulate themselves on recording a small profit which is an achievement for any football club, even if it was down on last year.

Financial results for the year ending 31 May 2013 show the Championship side made a net profit of £822,000 compared with £4.3m net profit in 2012. The figures cover the season 2012-13 when Latics won the FA Cup for the first time in its history but were relegated from the Premier League in the same week.

Bolton Wanderers have debts of £163m

by

Bolton Wanderers released some bad news on New Year’s Eve by revealing the full cost of relegation from the Premier League with the figures showing that the club now stands £163.8m in debt following a record loss of £50.7m during the financial year ending June 2013.