Juventus H1 net profits higher on player sales, club sees FY breakeven
Sales in the first half fell 6.9 pct to 101.5 mln eur, affected by a sharp fall in TV soccer rights and sponsorship revenues, while operating income came in at 20.2 mln from a loss of 17.2 mln a year before.
Juventus said its full-year results will be affected by the club's relegation to Serie B from Serie A. Relegation prompted the club to launch a plan to cut costs, especially players' wages, leading to the sale of many top-flight players. The club said it expects to break even for the full-year 2006-2007.
Juventus said net debt at Dec 31 was 75.1 mln eur from 12.9 mln at Jun 30. Net assets to Dec 31 totaled 29.6 mln from 14.2 mln at Jun 30.
The club said net profits in the second quarter to Dec 31 were 3.6 mln eur from 1.4 mln the year before, while sales in the quarter were 40.1 mln from 65.3 mln the previous year.