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Watford suffers pretax loss
England - 27 November, 2006
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Watford Leisure PLC , the company which owns the Premier League club, has reported a pretax loss of GBP 5.6 million for fiscal year ending June 30,2006 adding to its GBP 2.15 million loss last year.
Turnover was stable at GBP 8.5 million. The year under review ended with English Watford FC being promoted to the Premier League and the board said the promotion will bring top level football to Vicarage Road also help the company earn a profit.
Financial results for 2005-06 suffered from promotion costs with large bonus payments going to players and management.
The board said the stadium redevelopment, which is subject to planning approval, will increase profits considerably from match day fans and will help deliver a sustainable business.
Turnover was stable at GBP 8.5 million. The year under review ended with English Watford FC being promoted to the Premier League and the board said the promotion will bring top level football to Vicarage Road also help the company earn a profit.
Financial results for 2005-06 suffered from promotion costs with large bonus payments going to players and management.
The board said the stadium redevelopment, which is subject to planning approval, will increase profits considerably from match day fans and will help deliver a sustainable business.
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