Turnover from football increased to £136.0 million (2012 – £106.1 million) with strong growth across each of the Club’s key areas of activity.
Match day income increased to £45.0 million (2012 – £37.8 million) with the Emirates Cup returning to the pre-season schedule and the UEFA Champions League qualifying round providing an additional home game.
Broadcasting revenue was boosted to £52.0 million (2012 – £40.1 million) principally as a result of the Premier League’s new contracts with Sky and BT.
Commercial and retail revenues rose to £38.4 million (2012 – £27.7 million) mainly due to the extended partnership arrangements with Emirates which were not yet in force for the comparative period.
The Group has confirmed a significant five year contract with PUMA, as the Club’s new kit partner, which will come into effect from the start of next financial year.
As a result of these changes in football turnover, partially offset by increased costs, (mainly relating to player wages), operating profits (before depreciation and player trading) from football increased to £22.2 million (2012 – £4.4 million).
Property revenues were significantly lower at £2.0 million (2012 – £32.3 million which included the sale of the Queensland Road market housing site) and operating profits from property amounted to £0.7 million (2012 – £1.9 million).
Profit on sale of player registrations amounted to £6.1 million which was significantly lower than the prior year comparative (2012 – £42.5 million).
Group loss before tax was £2.2 million (2012 – profit of £17.8 million).
The Group has no short-term debt and cash reserves, excluding the balances designated as debt service reserves, amounted £120.6 million (2012 – £99.7 million).
Overall result for the year expected to be fully compliant with all of the requirements of both the Premier League and UEFA financial regulatory regimes.
Written by Steve Milne @stevenmilnelive