Soccerex Global 16
Dallmeier

Business Directory

Browse the Directory

Sign Up to the Directory

FT football
FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

Swansea To Post Profit of 14.6m

Tue 16th Oct 2012 | Money & Finance

The club is expected to release its full accounts for the year ending May 31, 2012, which reflects the club’s successful first season in the Premier  League with a 11th place finish. 

The Directors review of the business is set to reveal a turnover of £65.2 million, which aptly demonstrates the reward of achieving Premier League status, and a net profit after taxation of £14.6 million, despite operating costs, particularly wages, being double those of the previous year. 

Swansea’s net profit was boosted by a £5million settlement received from Liverpool for the loss of management staff, counteracting the net loss of £8.3 million incurred as a result of the cost of the promotion push in the previous financial year. 

The directors are expected to reiterate their resolve to continue to manage budgets which should produce a level of profit capable of generating sufficient cash to fund future growth and capital investment plans. 

While the extent and timing of a capital investment programme relies heavily on the club’s ability to remain in the Premier League, some progress has already been made with work underway on the £2.5 million Landore training ground development and the creation of a partnership with Swansea University which involves the acquisition of a long-term lease of the playing fields at Fairwood, which is expected to provide a first class training complex befitting a Premier League club. 

Plans to increase the capacity of the Liberty Stadium are already being discussed with the idea of a phased development over a two-year period when the timing is right.  

Posted by: Aaron Gourley

---------------------------------------------------------------------------------------------------

RETURN TO LATEST NEWS SECTION

SUBSCRIBE TO THE FCBUSINESS RSS FEED

If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk

 

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

The Boom Of Shirt and Stadium Sponsorship

Thu 29th Sep 2016 | Money & Finance

Nowadays, the football industry is one of the biggest markets on the planet. Companies from all four corners of the globe are involved in sport sponsorship in one way or another; whether they are...

Premier League Summer Transfer Spending Breaks 1.1bn

Thu 1st Sep 2016 | Money & Finance

Premier League summer transfer spending topped £1.1bn as clubs lavished a record £155m on deadline day. For the fourth consecutive year spending hit record levels as Premier League...

Biggest Gambling Companies Listed On The LSE

Tue 30th Aug 2016 | Money & Finance

Being on the top is not an easy job, and what these gambling companies have achieved is worthy of respect. They’ve become some of the biggest companies not only in the UK, but the world too. The...

The free betting tool that all bookies fear is up and running! Could this be their end?

Thu 18th Aug 2016 | Money & Finance

The Bookies don’t mind tipsters too much, as they know that on the long run, the house advantage is always big enough to secure a profit. However, when bettors start using stats and algorithms...