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Juventus sees dramatic decrease in quarterly losses
Italy - 09 August, 2007
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Italian Juventus saw a smaller net loss in the fourth quarter of this past fiscal year, almost EUR 25 million better than at the same time the previous year.
The club had a rise in sales of 10.5 percent, coming from higher television revenues. There also was a drastic 27.1 percent decrease in operating costs due to cuts in player wages.
The ascension back to Serie A from Serie B also was an intangible that helped the club jump from one fourth quarter to the next. The net financial position at the end of June was a positive of EUR 21.7 million, compared to a negative of EUR 12.9 million in the same period a year earlier.
The club has stated that, in the process of strengthening itself on-field, the 2007-2008 fiscal year will end in an anticipated loss.
The club had a rise in sales of 10.5 percent, coming from higher television revenues. There also was a drastic 27.1 percent decrease in operating costs due to cuts in player wages.
The ascension back to Serie A from Serie B also was an intangible that helped the club jump from one fourth quarter to the next. The net financial position at the end of June was a positive of EUR 21.7 million, compared to a negative of EUR 12.9 million in the same period a year earlier.
The club has stated that, in the process of strengthening itself on-field, the 2007-2008 fiscal year will end in an anticipated loss.
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