LONDON (Thomson Financial) - Preston North End said it recorded a first-half
pretax profit of 1.82 mln stg compared with loss of 1.34 mln stg for the same
period a year earlier despite the challenging situation.
The company attributed the profits to the profits from sale of players'
registrations of 4.83 mln stg, which principally related to the transfer of
David Nugent to Portsmouth.
Preston said despite the generation of profit in respect of player sales,
the business needs a significant supply of external finance to meet its ongoing
obligations and the company is grateful for the further support of its major
shareholders.
The company said its revenue for the period to Dec 2007 also grew 7 pct to
4.24 mln stg due to an increase in amounts receivable from the football league,
following the league's negotiations to secure additional funding for its member
clubs from the Premier League.
TFN.newsdesk@thomson.com
vsr/lam
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|