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31/12/2007
Local News in Reading

Royals make a profit

READING Football Club has made a profit for the first time since John Madejski saved it from collapse in 1990.

According to accounts just filed at Companies House, the club achieved pre-tax profits of £6.6m against a £6.5m loss during the tax year ending in June 2007.

It is the first time the club has traded in the black since 1990, and it is largely thanks to an increase in sales – including tickets and merchandise – from £17.8m to £49.9m, after promotion to the Premier League .

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In the introduction to the year’s accounts, Mr Madejski wrote: “Our new status has seen the profile of the club increase on an unprecedented level.”

He plans to reinvest the profit by building a £2 million office block and improved press centre. Mr Madejski is still looking for a buyer and recently valued the club at £100 million.

First printed in: Reading Evening Post

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