|
  
|
OFFICIAL SITE
Takeover bits at the bottom in bold.
Stock Exchange statement
18-07-07
The board of Southampton Leisure Holdings is today providing a trading update
following the close of the Company`s financial year ended 30 June 2007. The
board is also providing an update concerning discussions that may or may not
lead to a possible offer for the entire issued share capital of the Company.
The Company has made good progress during the last year and the preliminary
statement of financial results for the year is scheduled for release towards the end of September.
Unusually for a club participating in the Coca Cola Championship for the second
consecutive year following relegation from the FA Premier League, the Company`s
wholly owned subsidiary, Southampton Football Club ("the Club") managed to
achieve modest growth in match attendance levels. In addition the Club achieved
growth in retail merchandise sales revenue, corporate hospitality seat sales and other commercial revenue streams.
As at 13 July 2007 the number of season tickets sold for the forthcoming 2007-08 football season stood at 13,093, which is 3,583 more tickets than the Club had sold on the corresponding date last year.
Reductions in labour and overhead costs were effected during the course of the
financial year and a ten-percentage point reduction (to 64%) was effected in the ratio of total payroll costs to the total business turnover of the Company.
The Club finished the Coca Cola Championship six places higher than in the
previous 2005-06 football season and missed out by the narrowest of margins on
reaching the Championship Play Off Final. In the coming season, the Club will
again remain focused on winning promotion to the Premier League.
The board had hoped, and were given an indication, that certain parties would make an investment in the Company during the course of the financial year. Unfortunately no such investment was made and the board have subsequently sought to identify and obtain funds from other potential investors to enable the Company to achieve its full potential.
Subsequently the board announced on 27 April 2007 that it had received a
preliminary approach that may or may not lead to an offer being made for the
Company. The board is pleased to report that it is now in discussions with more
than one interested party which may or may not lead to an offer. Further
announcements will be made as and when appropriate.
|
|