WATFORD FC REPORTS LOSSES

As a consequence of rising revenues, the Championship club reported losses for the six-month period ending December 31, 2005; a development that Chairman Graham Simpson said was understandable.

“This is a satisfactory performance considering last year's results contained a GBP 258,000 contribution attributable to our extended run in the Carling Cup competition,” Simpson said. “This year our progress in the cup ended at the third round stage, thereby minimising the income available to us through this channel.”

Losses rose to GBP 463,345 from GBP 342,841 over the same period in 2004. However, gross revenues from the club’s retail store rose GBP 144,000, with ticket revenue contributing GBP 227,000. Costs were up because of higher costs associated with retail, player settlements and administration costs.

On the field, the club has fared well.

“I am pleased to be able to report that Watford Football Club has been very successful in the first half of the league campaign and has consistently occupied a top six place in the Championship table since October,” Simpson said. “Promotion – either automatic or via the Play-offs – is a distinct possibility.”