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SBD Global/December 31, 2012/Finance

Leeds United Reports Profit Losses Over 12-Month Period Ending In June

League Championship side Leeds United has "underlined the importance of GFH Capital’s recent takeover" by publishing new figures that reveal a major financial downturn, according to Phil Hay of the YORKSHIRE EVENING POST. The club’s results for the 12 months leading up to June 30 show "marked decreases in turnover and gate receipts and an operating loss of more than £3.3M." Leeds United posted an overall profit of £317,000, helped by the sale of ex-player of the year Max Gradel and former captain Jonathan Howson. However, the figure "decreased dramatically" from £3.5M during the previous 12 months. Gate receipts were down 10% and turnover fell by almost 5% to just more than £31M. United’s parent company, Leeds City Holdings Ltd., saw "more severe decreases" with its operating loss standing at £4.2M and its overall loss recorded as £536,000 (YEP, 12/28).
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