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

2 years free Sky Broadband Unlimited for Sky Sports customers

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

2 years free Sky Broadband Unlimited for Sky Sports customers

Related News

Most Commented

Readers' Comments

B

alotelli would've scored if the goals height was 3 times higher too...

footyfan52
Rodgers defends Balotelli

A

s if storey would ever get invited on a stag do

dooby
Does Wenger Know He's To Blame?

I

disagree. We sit here in our ivory towers looking down our noses at people we perceive tio be thick, but if Harry Redknapp and Tim Sherwood can do it, frankly, anyone can.........

HarryBoulton
Roy: Rooney can become manager

Footer 365

Premier League: Sunderland players offer to refund fans for trip to 8-0 defeat at Southampton

Sunderland players have offered to refund fans who made the long trip to Southampton to see their side routed 8-0.

FA General Secretary Alex Horne to leave post in January

FA General Secretary Alex Horne will leave his post at the end of January.

Champions League: Real Madrid without Gareth Bale and Sergio Ramos for Liverpool tie

Real Madrid will be without Gareth Bale and Sergio Ramos for their Champions League trip to Liverpool on Wednesday.

Mail Box

Are There Any Happy Fans Out There?

It seems as if Chelsea, West Ham and Southampton are the only content supporters right now. We have more doom and gloom for you. Who wants good news, eh..?

Is Van Gaal Just A Dutch Pardew?

A Mailbox of comparisons. Van Gaal is similar to Pardew, Wenger to Moyes, Van Persie to a spent force, and Pelle to a bloody gent. There's also plenty from last night...

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