Leeds United Football Club has today filed the financial statements for the period ended 30th June 2016 at Companies House.
In order to help fans understand the information contained within the documents that have been filed, please find below the key points from these accounts.
Key Points from the Accounts
- For the year ending 30th June 2016 the total club turnover rose by £5.7m to £30.1m.
- Gross profits generated during the financial year increased by £4.3m to £24.7m
- Net losses increased by £6.3m to £8.9m, caused principally by a reduction in profits generated from player trading down by £7m to £2.8m for the year ended 30th June 2016.
- Net liabilities at 30th June 2016 were £252k, this compared to net assets of £8.6m as at 30th June 2015.
- Investment in the first team playing squad totalled £6.3m during the year ending 30th June 2016 compared to £6.1m during the year prior.
- During the year ending 30th June 2016, the club issued £5,000,000 shares to Eleonora Sport Limited, further strengthening the balance sheet.
- Average home league attendance in the season was 22,448. This figure was down from 24,278 the previous season.
- The launch of our technical kit partnership with Kappa has helped deliver growth for the clubs retail department. The opening launch day sales of home replica shirts were the highest for many seasons.
- The club brought the catering operation back in-house which generated revenue of £4.9m compared to £1.1m during 2015.
- The club has continued to carefully manage its operating cost base effectively; First Team playing wages represented 50% of turnover compared to 71% during the prior financial year whilst the club finished two League positions higher during the most recent campaign.
- Average age of players in the first team squad at the commencement of the 2015-16 seasons was 22 years old compared to an average of 23 years old in the season prior.
-The Club’s Grass Roots ticket initiative, designed to encourage groups of young people to watch live football at Elland Road continued to be popular with, once again, over 8,000 fans attending during the 2015-16 season.
To view Leeds United accounts for the year ending 30th June 2016 please click here.
