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

S

till reckon Chelsea will go for Khedira as back up for Matic. I think it will turn out to be quite a Mourihno-y window: We'll see the squad players and youth in action pre-season, say things like well, we need not buy anybody and then the club will bid £60m for Pogba and send everybody on loan.

tk421
F365's Transfer Guide - Part One

I

would love to be a fly on the wall at the meeting between Milner and Rodgers. I don't know if flies can count, but if they can then I would be counting the number of times Rodgers used the word outstanding in his attempts to get Milner to sign.

godzilla
Reds and Arsenal chase Milner

W

ell, it wouldn't be a summer without Arsenal fans fretting over losing a key player, and United throwing their weight around and muscling in on transfer deals which are (apparently) near to completion. If we can't be entertained by the football on the pitch, let's enjoy the silly off-pitch soap opera of the transfer season. Hurrah!

CamberleyGooner
The Back To It Gossip

Footer 365

Sepp Blatter announces he will resign as FIFA president

Sepp Blatter has announced he is to resign as president of FIFA and an election will be held to decide his successor.

Greg Dyke welcomes Sepp Blatter's decision to resign as FIFA president

FA chairman Greg Dyke has called Sepp Blatter's announcement he is to resign as FIFA president "a brilliant day for football".

FIFA reformer Damian Collins wants Sepp Blatter to go immediately

FIFA reform campaigner Damian Collins believes Sepp Blatter should go sooner rather than later.

Mail Box

Liverpool 2015 Feels Like Liverpool 2011...

One Mailer says Benteke = Carroll, Bellamy = Milner and Clyne = Downing. Plus we have U21 Euro impatience, farewell Rio, Rafa Benitez, Milner, FIFA and title play-offs...

Calling Carlo For Liverpool... Please

One Liverpool Mailer wants a manager who isn't starstruck by the job. Plus why Milner has now become overrated, play-offs for the title, Ronaldinho and democracy..

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company