IFIL's Juventus Q4 net loss widens on player write-downs, lower sales
MILAN (Thomson Financial) - IFIL SpA's quoted unit Juventus Football Club SpA said its fourth-quarter net loss widened to 20.3 million euros, from 11.8 million a year earlier, on player write-downs and weaker sales.
Operating loss was 18.4 million euros, against 11.0 million in the fourth quarter to June 30, 2007, while sales fell 7.8 percent to 42.5 million, mainly due to lower TV broadcasting rights, the club said.
"In the quarter, amortisation and write-downs on players was 11.2 million euros, up 6.2 million, mainly due to the
6.8 million write down on remaining rights in footballer (Jorge) Andrade
," it said.
In July, reports said defender Andrade had suffered a repeat of the knee injury that limited him to four Serie A appearances last season and will see him out of action for a further few months.
In the fourth quarter, Juventus said sales fell to 42.5 million euros, from 46.1 million, with broadcasting rights down to 26.4 million, from 29.0 million.
Looking forward, the club said 2008/2009 results will be influenced by any participation in the UEFA Champions League, which depends on getting through preliminary rounds August 13 and 26.
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