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Watford announce smaller loss

12:53pm Monday 15th March 2010 in


Watford Leisure PLC have confirmed a six-month pre-tax loss of £172,000 in 2009.

The unaudited financial report, for the six months ending in December last year, shows the loss falling significantly from £2.279m in the equivalent period during 2008. This reduction can be attributed to a fall in costs and players sold.

Watford made a profit of £4.484m on the sale of players with the departures of Tamas Priskin, Mike Williamson, Tommy Smith, Theo Robinson and Jobi McAnuff totaling approximately £4.2m. Watford's operating loss before interest, player trading and amortisation was £3.876m.

Revenue also fell from £10.990m in 2008 to £5.163m in the second half of 2009 partly due to the end of the parachute payments from the Premier League.

Comments(9)

Derek Payne says...
2:25pm Mon 15 Mar 10

not bad all considering

we might actually make a profit next year

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a1derek says...
3:38pm Mon 15 Mar 10

May well be some way to go on cost restructuring as it would have been a very hefty loss without selling players.

An annual turnover of around £10m doesn't give an awful lot of room for player salaries!

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laddie hornets says...
5:14pm Mon 15 Mar 10

An operating loss of £3.9m in 6 months before being baled out by sales? Obviously the wage bill comes down with those sales, but we're light years from breaking even, and our stock of playing assets that anyone would pay for to help balance the books is pretty thin. Time to be grateful for 'the Lord'!

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HOOF says...
6:01pm Mon 15 Mar 10

£4.2m from the sales of Priskin, Mike Williamson, Tommy Smith, Theo Robinson and Jobi McAnuff.
So us supporters have been told lies yet AGAIN about transfer fees received for players???

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QUINNPT says...
8:03pm Mon 15 Mar 10

Hoof on what basis have lies been told?
Don't forget depending on the deal we dont get all the funds in one go. It is spread over a period of time. Hence the £4.2m are the sales received during this period of 6 months. So before you make statements make sure you can back them up with facts.
Sad fact though it is true for now we will always be a selling club.

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Garston Tony says...
8:27am Tue 16 Mar 10

But we have always been a selling club, even when in the Prem and we were supposedly flush with cash Ashley Young left us for better pastures. The fact that Simpson went on a spending spree four or five years ago didn't change this fact, it just put the club into major debt. As to the new set of figures, a lot of work still to do maybe but this is proof that the R's were on the right track with what they doing and that they did a very good job without any support from Lord A and Simpson. Lord A may be our current saviour but only for the sake of his own reputation

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Richard - Come On You Golden Boys! says...
11:16am Tue 16 Mar 10

Annual turnover of £10million should be a reality check for all those who believe we should be splashing out on new players or a big name manager to replace Malky.

We have the finances of a small championship club, so have to accept these limitations and work within the budget. So, please let's all get behind the Manager & our team and support them properly tonight. I'd like to see a couple of changes to freshen the team up a little, but there is no sense in booing during the game whoever is on the field, how we are playing and whatever the state of the match.

It's very easy to claim to be a supporter when things are going well, but unless you support one of those soul-less, global brand, Big-4 clubs it's not always like that.

Now is the time for real Watford supporters to show their true colours and show our fair-weathered friends the way. Come on you know it makes sense, YOUR CLUB NEEDS YOU!

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vicarhorn says...
5:37pm Tue 16 Mar 10

Richard - Come On You Golden Boys! wrote:
Annual turnover of £10million should be a reality check for all those who believe we should be splashing out on new players or a big name manager to replace Malky. We have the finances of a small championship club, so have to accept these limitations and work within the budget. So, please let's all get behind the Manager & our team and support them properly tonight. I'd like to see a couple of changes to freshen the team up a little, but there is no sense in booing during the game whoever is on the field, how we are playing and whatever the state of the match. It's very easy to claim to be a supporter when things are going well, but unless you support one of those soul-less, global brand, Big-4 clubs it's not always like that. Now is the time for real Watford supporters to show their true colours and show our fair-weathered friends the way. Come on you know it makes sense, YOUR CLUB NEEDS YOU!
Well said, Richard! I agree with every word - carping negativity achieves nothing. 'Go for it, lads!'

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Richard - Come On You Golden Boys! says...
3:24pm Wed 17 Mar 10

Thanks Vicar, it's something to do with my age and the fact I've supported them for almost 50 years, (man & boy, near & far). Was a much improved performance last night and we got the desired result. If they can show the same belief and commitment in the next 2 away games we might even end that losing away run!

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