Exiles post £1m annual trading loss
January 24, 2012
London Irish's financial results show an improvement on the previous year © Getty Images
London Irish have posted a £1.06m loss in their annual trading results, a reduction from the previous year.
The accounts for the year ending June 30, 2011 show an improvement from the £2.09m loss the club suffered in 2010. And there are reasons for optimism as turnover has increased by 9.2% to £8.24m. The other findings see a cut in administration costs by 2.4% to £7.86m and cash outflows from operating activities reduced by 67.2% to £813,000.
"The results are pleasing when set in the context of the economic climate," chief executive Andy Martin said. "We have been working extremely hard to improve our commercial operations and create a sustainable platform for the future of London Irish.
"The 2010-11 trading results show the significant progress we have made towards this objective. Like all rugby clubs, ticket sales remain our primary source of revenue and attendances have undoubtedly been affected by the mounting pressure on disposable incomes.
"We expect this pressure to persist into 2012 and will continue to evaluate our ticket packages to ensure the Madejski Stadium remains accessible to all our supporters."
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