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Financial Results Announced

Posted: Mon 12 Nov 2012
Author: BWFC Staff

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Burnden Leisure Plc has released its figures for the financial year ending June 2012.

The year saw a reduction in the group financial loss from £26.1million to £22.1million, due to significant income from transfer dealings.

Attendances at Barclays Premier League matches increased by 3%, while ticket prices were again frozen, and the season saw the successful introduction of the interest-free direct debit scheme.

In difficult economic conditions, sponsorship and advertising revenue was up from £3.8million to £4.3million, an 11% rise, while revenues from corporate activity remained stable year on year at £1.8 million.

Bolton Central saw merchandise and licensing sales grow 6% to £1.8million from £1.7million in the previous year.

Turnover was recorded at £64.9million, in comparison to the previous season’s figures of £67.7million, and income for football operations in the year stood at £58.5 million.

This reduction from the previous year was due to reduced central broadcasting revenue, along with the club progressing to the quarter final of the FA Cup as compared to the semi- final in season 2010/11.

Gate receipts were £5.7million as compared to £6.3million last year.

Headline operating costs totalled £75.6million, as certain one-off costs were included in the year.

Excluding these costs, operating costs reduced by 1% over the previous year.

Total staff costs for the year £55.3million, which is 1 % down year on year, while general administration costs increased by 2% to £15.7million from £15.3million. 

Other player-related costs, including amortisation, saw a slight increase of 1% to £14.3million.

Net debt is now recorded as £136.5million, of which £125million owed to MIL.

Key to this year is the refinancing of debts repayable to MIL. This has been converted to long-term debt underlining the on-going support from owner Eddie Davies.

In line with the hotel industry as a whole, trading conditions were difficult for the joint venture DeVere Whites Hotel.

Revenue for the year was £7.3million as the tough economic climate continued to hit demand for conference and meeting facilities.

Chairman Phil Gartside said: “We continue to face a tough economic climate, but we have continued to invest across the business, and for the second year we have reduced our losses.

“Key to this set of figures is the fact Eddie Davies has converted his investment in our club from short-term to long-term debt.

“It is a huge vote of confidence and underlines the on-going support and commitment he has for our club.

“To lose our place in the Barclays Premier League was hugely disappointing for all of us – fans, staff and players, and our aim is to return at the first opportunity.”

To view the full report and accounts click here.