LONDON (Thomson Financial) - Watford Leisure PLC. posted a higher pretax
profit in the six months to Dec. 2007 helped mostly by a 3.94 million pound
profit on the disposal of player registrations, including that of Hameur Bouazza
to Fulham in August, and 4.56 million pounds of exceptional income from lease
receipts.
The owner of football club Watford FC posted a profit before tax of 4.14
million pounds against 1.38 million a year earlier.
Revenue for the first half dropped to 11.27 million pounds compared with
13.98 million, primarily due to the drop in league funding after the team's
relegation from the Premier League and a fall in average match attendance.
However, the board said that work on the stadium continues to provide a
positive outlook for the future and added that it believes the team is currently
well-placed to compete for one of the automatic promotion places despite a
challenging Championship.
He added that recent squad purchases John Eustace, Leigh Bromby and Matt
Sadler have made a significant and immediate impact to the team's performance.
TFN.newsdesk@thomson.com
ran/slm
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.
|