Portuguese Side Porto Posts $27.8M Profit Despite 39% Ticket Revenue Slump
Portuguese side FC Porto has turned in a "chunky" €20.3M ($27.8M) profit for the '12-13 season, according to Gareth Messenger of INSIDE WORLD FOOTBALL. The profit "came against a loss" of €35.7M in the previous campaign and "despite a 39% slump in ticket revenue." Porto Dir Angelino Ferreira "put the fall in ticket sales revenue down to the levying of VAT and the prevailing economic conditions" that the "industry is not immune to" after seeing ticket revenue drop from €10.6M ($14.5M) to €6.5M ($8.9M). Ferreira said that "Porto was supported by stability in other key sources of income, especially its share of the UEFA payout from the club's participation in the Champions League" -- €20.3M. This was also increased by a further €15.2M ($20.8M) from "corporate hospitality as well as a positive year of transfer activity" (INSIDE WORLD FOOTBALL, 10/18).