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Rediff.com  » Sports » Barcelona report smaller pre-tax loss than expected

Barcelona report smaller pre-tax loss than expected

July 27, 2011 10:10 IST

Barcelona made a smaller loss than expected last season and are confident of returning to profit in the 2011-12 campaign after two years of deficits, vice-president for economic affairs Javier Faus said on Tuesday.

The Spanish and European champions posted a pre-tax loss of 9.3 million euros ($13.5 million) in the year to the end of June, less than half the 21.4 million euros expected and down from 83 million euros in the year-earlier period, Faus said.

Winning the Champions League, the club's new sponsorship deal with Qatar Foundation, a strong turnout at the Camp Nou stadium and a surge in visitors to the club's museum had helped trim the deficit, he added.

"Our obligation is to make a profit from next season and we will do that," he said. "For the first time in two years we will present a budget that foresees profit."

In a separate statement on their website (www.fcbarcelona.cat), Barca said the sales of players Zlatan Ibrahimovic, Dmytro Chygrynskiy and Martin Caceres for much less than they cost had contributed to losses of 44.2 million euros, without which the club would have posted a pre-tax profit of 33.5 million.

Operating income rose to 473.4 million euros, an increase of 14 percent compared with the 2009-10 season, while costs were up 10.4 percent to 472.6 million euros, made higher by win bonuses to players following the club's domestic and European successes.

Net debt fell to 363.7 million euros from 430.6 million.

Source:
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