Wolves post pre-tax profit

Wolves have posted a healthy pre-tax profit of £2.16million for the year ended May 31, 2012.

Last Updated: 06/12/12 at 11:56 Post Comment

Molineux: Healthy profit for Wolves

Molineux: Healthy profit for Wolves

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

The period covers Wolves' third season in the Premier League, which ultimately ended with relegation to the Championship.

The Black Country club were £80,000 down on the pre-tax profits of 12 months previous (£2.24m), largely due to a decrease in generated turnover from £64.4m in 2011 to £60.6m in 2012 as a result in part to lower Premier League merit receipts and lower league match revenues.

The financial information does not include transfer activity during the summer of 2012, including the sales of Steven Fletcher, Matt Jarvis and Michael Kightly as well as the recruitment of seven new players.

Operating costs were approximately level with the previous 12 months.

At the year end for 2012, the club's holding company, WW (1990) Ltd, boasted a strong balance sheet with net assets totalling £74.9m, which includes all of the club's property such as Molineux and the Compton training ground.

Chief executive Jez Moxey told the club's official website: "The season under review was dominated by the huge disappointment of relegation from the Premier League, which impacted on everyone connected to Wolves.

"Since then the club has been through a period of significant change with the appointment of a new manager and the arrival of seven new players.

"As we all know the Championship is a very competitive league, both on and off the pitch, however we all remain united behind the goal of trying to regain Premier League status as soon as possible.

"We recognise this will be a difficult challenge in a number of different ways but we are totally committed to it."

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Related News

Most Commented

Readers' Comments

W

ow.. ten paragraphs on West Ham in winners sections.. wow.. Its really Christmas time!!!.. Forever blowing bubbles..

metal
Premier League Winners And Losers

A

couple of wins and everything is OK! Sorry you still haven't got a striker who can consistently goals. Keep searching. I don't think Liverpool will make top four not even Europa League this time around.

larrylawrence
Rodgers still targets top four

I

f he can find the right player? Surely the manager of one of Europe's top clubs has a well-researched short-list and has a good idea of who he wants to bring on-board? If I can find the right player sounds like someone going out on Saturday night on the pull, and the nearer you get to midnight the lower your standards drop.

CamberleyGooner
Wenger to buy centre-half

Footer 365

Premier League: Chelsea go three points clear of Man City with 2-0 victory at Stoke

Chelsea will be top of the Premier League table on Christmas Day after beating Stoke 2-0 at the Britannia Stadium.

Italian Super Cup: Napoli beat Juventus 6-5 in penalty shootout after 2-2 draw in Doha

Napoli goalkeeper Rafael was the hero as his side claimed a 6-5 victory on penalties over Juventus in the Italian Super Cup.

Sky Bet Championship: Sami Hyypia quits Brighton after six months in charge

Sami Hyypia has left Brighton after the club accepted his resignation as manager.

Mail Box

Becoming A Proper Fan Again In 2014

Man United fans can thank David Moyes for making them appreciate their club again. We also have mails on Liverpool, Newcastle, another Christmas XI and more...

Wenger Has Made Arsenal Mentally Weak

We have plenty of reaction to yesterday's result, with Mailers sick of Wenger, Mertesacker and Skrtel in particular. Plus why it's not yet time for 'Austin for England'...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property