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Birmingham Post
Birmingham Post
Business
Jon Robinson

Losses widen at Super League champions St Helens despite revenue rise

Losses at Super League champions St Helens widened during their latest financial year despite a rise in revenue, new documents have revealed.

For the 12 months to October 31, 2021, the club achieved a revenue of £6.9m, up £1m from the prior year.

However, their pre-tax losses went from £1.1. to £1.6m over the same period.

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The club said their revenue increased due to fans returning to the stadium and one-off room hire income while their losses widened because of Covid-19 restrictions and a rise in depreciation on the stadium "due to a revision of its economic life".

The amount of furlough money the club received during the year reduced from £976,164 to £373,324.

A statement signed off by the board said: "St Helens had another successful year in Super League winning the Challenge Cup and the Grand Final.

"This was the third consecutive season that the club has won the Grand Final.

"The St Helens women's team also had a very successful year winning all three trophies that were on offer.

"The Covid-19 pandemic protocols leant that attendances for games during the season were either behind closed doors or with limited attendances.

"As a consequence, income streams in most areas of the business suffered.

"The stadium was designated as an NHS vaccination centre in November 2020.

"This provided much need revenue to the club at a time when other income streams were drastically reduced."

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