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First profit in seven years for Liverpool FC

Liverpool Football club announced its financial results revealing its first profit for seven years.

The club saw a pre-tax profit of £0.9 million compared to losses of £49.8 million the previous year.

The club said that this was due to higher revenues, which were up 19% and TV broadcast revenues which were up 46% to £100.9 million.

However the club also saw a rise in net debt by £12.2 million to £57.3 million in total.

Chief executive, Ian Ayre, said: “We continue to make good financial progress. Although these results are nearly 12 months old, they demonstrate that the transitional period we’ve been through over the past four years have stabilised the club and provided a platform for growth.

“Revenue has been consistently increasing from around £170 million in 2009 to over £250 million today and our commercial revenues continue to add strength to our overall results.

“During these past transitional years, it was important that we took a measured approach to bring back financial stability by ensuring the club is properly structured both on and off the pitch.

“We continue to add strength and depth to our playing squad while continuing to develop young talent. During the period we offered 13 professional contracts to Academy players, including Rossiter, Dunn, Lloyd Jones, Sinclair and Peterson.

“Our match day revenue increased by £5 million, mainly as a result of our successful pre-season tour in Asia and Australia, and we can now look to grow this area following the historic announcement of Anfield’s Main Stand expansion.

“Since this reporting period we have again continued to make good commercial progress announcing several new partnerships including New Balance, Nivea Men, Pru Health Vitality and Instaforex which demonstrates the global appeal of the LFC brand.

“We have also opened 60 franchised shops across Indonesia and new LFC stores in Malaysia and Dublin. We also had a very successful pre-season tour in the US.

“With a hugely supportive ownership, we have brought financial stability back to this football club and we now have the right structure, platform and ambition to continue growing on and off the pitch.”

This was posted in Bdaily's Members' News section by Sophia Taha .