Aston Villa reports interim loss

The Premier League club has reported an interim pre-tax loss of £8.77m for the six months ended on 30 November 2004. Turnover reported £19.01m, a slight drop from last year’s corresponding period £19.12m. Operating expenses has been reduced 5% from £24.84m to £23.64m, mainly due to reduction in staff costs from last year’s £18.3m to £17m. Club Chairman, Doug Ellis informed on plans to exploit the club's property assets: “Our application to build a supermarket on our Brookvale Road site is expected to be determined by the City's Planning Committee by the end of March 2005.” Planning permission would help to release the value of the club’s property assets. The club has no debt but in fact it has net funds of £2.6m, and halved pre-tax losses in the six months to 30 November 2004.

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