West Bromwich Albion reports loss

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The Premier League club announced a preliminary pre-tax loss of £110,000 for the year ended 30 June 2004, compared to a pre-tax loss of £644,000 in the year before. Turnover decreased nearly 28% from last year’s £28.45m to £20.57m and operating expenses reported £19.13m, which has included £9.3m on player wages. The club’s wages-to-turnover ratio is 45%, one of the lowest in the Premier League. Chairman Jeremy Peace has commented in his statement on intentions to cut the current number of players at the club by around 25%, from the current 31. The club also revealed it intends to de-list from the London Stock Exchange and revert to being a private company.