Premier League club stays profitable as it keeps its eye on the ball
PREMIER League club West Bromwich Albion has continued its profitable streak despite a challenging season on the pitch.
Despite the number of season ticket holders falling by nearly 1,000 to its lowest point for several seasons, and replacing manager Alan Irvine with Tony Pulis partway through the 2014-15 season after a run of poor results, the club finished last season in a healthy position.
It recorded a pre-tax profit of £3.8m – which was down by £9.2m, because of the impact of player trading – while turnover increased by £9.5m to £96.3m.
The main driver of higher revenues was TV income and other media revenues, which rose by £8.2m to £77.5m. Gate receipts increased by £1m, to £8.0m, as a consequence of the dip in season ticket holders being matched with only a very small decline in the average attendance as more fans paid.
West Brom finished last season in 13th position, and are in the same position in this season’s Premier League table with six games remaining.
The amortisation of players’ registrations – an accounting procedure which reduces the value of an asset – reduced its operating profits by £14.6m, which was £9.4m higher than a year earlier.
Wages increased by £4.3m, to £69.8m, and account for 73% of the club’s turnover, which included a 9% pay rise for chairman Jeremy Peace, who received £1.1m.
