Gold Coast Fined For Salary Cap Breach Marketing Symposium: Global Sports Events Bayer To Pay Back Sponsorship Money HKFA Says It Learned From ARG Friendly CA Signs Naming-Rights Deal With Bupa DEB, Sport1 Extend Deal Until '17-18 Sky's CL Broadcast Attracts Top Ratings Curling Federation Set To Lose Funding Fabio Cannavaro Faces Tax Investigation HK To Kick Off New Reward System
SBD Global/August 24, 2012/FinancePrint All
Bundesliga club Borussia Dortmund (BVB) "released its financial numbers for the '11 fiscal year and reported a record revenue" of €215.2M ($270.3M), according to the SID. The defending Bundesliga champion and German Cup champion "also generated a profit after taxes of" €34.3M ($43.2M) during last year. The market-listed club "was able to increase revenue by 42% in comparison to the previous year" (€151.5M). For the first time since its stock market launch in '00, the club "will be able to pay an undisclosed amount in dividends to its shareholders." Dortmund Managing Dir Hans-Joachim Watzke said, "That's a reputable result. We continue to grow and see additional growth potential." Watzke added that "half of the club's profits comes from player transfers," such as the Lucas Barros trade to China for €10M and Shinji Kagawa's departure to ManU for €16M. The release of the financial numbers gave the BVB shares a 5% bump, and are currently valued at €2,64 ($3.32) (SID, 8/23).
Li Ning, "the struggling Chinese sportswear retailer that is one of the mainland’s best known homegrown brands," has warned it may post a full-year loss due to inventory overhang and slowing domestic economic growth, according to Waldmeir & Tsui of the FINANCIAL TIMES. Its shares fell 3.8% in Hong Kong on Thursday, compounding a 4.5% fall on Wednesday, "as investors appeared to be losing patience with the company’s assurances it has found a way to reverse the two-year slide in its fortunes." Li Ning reported an 85% drop in first-half net profit to RMB 44.3M ($7M). One reason for the projected full-year loss is that spending on the recently concluded London Olympics "will be booked primarily in the second half." Shanghai-based China Market Research Founder Shaun Rein said, "Li Ning's poor performance has more to do with its own strategic missteps rather than an overall slowdown of the Chinese market" (FINANCIAL TIMES, 8/23).