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Juventus takes first-quarter financial loss
Italy - 15 November, 2007
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Low sales and higher costs sent Italian Juventus to a EUR 5.2 million loss for the end-of-September first quarter.
The club had seen a EUR 11.8 million profit a year earlier.
Sales fell 12.4 percent, dropping to EUR 53.8 million. There was a fall in proceeds from a lack of player sales this year. Costs also rose 15.6 percent.
The club said it expects a net loss for the 2007-2008 fiscal year. Part of the reasons for the expected loss is that the club expects to build its strength on the pitch through player acquisitions.
The club had seen a EUR 11.8 million profit a year earlier.
Sales fell 12.4 percent, dropping to EUR 53.8 million. There was a fall in proceeds from a lack of player sales this year. Costs also rose 15.6 percent.
The club said it expects a net loss for the 2007-2008 fiscal year. Part of the reasons for the expected loss is that the club expects to build its strength on the pitch through player acquisitions.
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