Tuesday, October 10, 2006

West Ham Show Profit

As reported in yesterday's Guardian West Ham have published their yearly accounts for the year ending May 2006. The Guardian claimed that this was a sign of the board's willingness to listen to takeover bids, as the accounts have to be made public before a bid can go ahead.

The accounts showed that West Ham have returned to profit with,

• A turnover of £60.1m (2004-05 - £31.8m)
• An operating profit before player trading of £13.4m (2004-05 - £1.9m operating loss)
• A pre-tax profit of £6.0m (2004-05 - £5.1m loss)
• Net assets of £39.8m (2004-05 - £35.9m)
• Net bank borrowings of £22.5m (2004-05 - £29.4m)

What the accounts don't show are share/bond holder dividends and board salaries.

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