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

Bet £10 Get £30

Daily Offers And Promotions. Join Now & Bet £10 and Get a £30 Free Bet

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."

Bet £10 Get £30

Daily Offers And Promotions. Join Now & Bet £10 and Get a £30 Free Bet

Related News

Most Commented

Readers' Comments

T

his is brilliant! All these years of moral ambiguity, grey areas of offence and context..now we have a simple, easy to follow guide to right and wrong. What did you do today? I kicked the face off a panda . Oh well, you didn't rape, kill anyone or abuse a minor, knock yourself champ.

megabrow (cufc)
Redknapp leaps to Mackay defence

I

wonder if he'd feel the same way if he wasn't a white, non-jewish heterosexual male. Because Mackay has basically insulted everyone else!

Jay_D
Redknapp leaps to Mackay defence

C

heers Harry. I was wondering if he'd murdered anyone

Ezy_Rider
Redknapp leaps to Mackay defence

Footer 365

Premier League: West Brom boss Alan Irvine feels Southampton are still dangerous

Alan Irvine will take his West Brom side to Southampton fully aware their much-changed side still has plenty of threats.

Hillsborough Justice Campaign sceptical of Lib Dems' pledge to introduce safe standing

The Lib Dems' pledge for safe standing in England has been met with scepticism from the Hillsborough Justice Campaign.

Premier League: Leicester boss Nigel Pearson vows to attack Chelsea on Saturday

Leicester boss Nigel Pearson has no intention of playing defensive football when his side takes on Chelsea on Saturday.

Mail Box

Man United: One Game To Save Season

They have one match to convince decent players that they are worth joining - over to you, Louis. We also have mails on Malky Mackay, Mario Balotelli and Tim...

Man United Fans Clutching At Straws

While the focus is on Liverpool's move for Mario Balotelli, one Man United fan tries to convince the mailbox with nine reasons why Angel Di Maria would prefer them to PSG...

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