Liverpool 10-Month Pretax Loss Narrows as Expenses DeclineChristopher Elser
Liverpool said its 10-month pretax loss narrowed as administrative costs declined.
The pretax loss for the 10 months ended May 31, 2012 was
40.5 million pounds ($61 million), compared with 49.3 million pounds for the 12 months ended July 2011, the company said today in a statement. It shortened the fiscal year to align it with the soccer season.
Liverpool’s revenue fell to 169 million pounds from 183.6 million pounds in the year earlier period as it failed to make either the Champions League or Europa League continental competitions. Some of the decline was made up by more money from domestic cup competitions after Liverpool won the League Cup in the period.
Net debt rose to 87.2 million pounds from 65.4 million. After the reporting period, the owners made a 46.8 million no-interest loan to the English club to repay debt on a stadium loan.
Total administrative costs declined to 186.8 million pounds from 252.1 million pounds in the year earlier period, the club said.