Super League: Eamonn McManus predicting a bright financial future for St Helens
Last Updated: 18/08/14 9:38am
St Helens chairman Eamonn McManus expects the Super League club to break even in 2014 and make a profit next season and beyond.
The Langtree Park side last season announced ‘significantly improved’ results or the financial year ended 31st October 2012 and have now continued their upward curve.
Saints are performing well on the field with Nathan Brown’s men currently top of the table. They have lost only six of their 24 league matches and have a three-point lead over arch-rivals Wigan Warriors.
We expect to break even this year and are now strongly positioned to be profitable operationally in 2015 and beyond.
“The substantial long term investment in our new stadium, along with an improvement in Super League's financial position generally, is now bearing fruit for the club and we are projecting a major improvement in our overall operating performance in 2014,” McManus told the club’s official website.
“We expect to break even this year and are now strongly positioned to be profitable operationally in 2015 and beyond.
“2013 witnessed continuing major capital expenditure by the club to fund both external steel cladding for Langtree Park and also to meet the cost of continuing interior decoration. These programmes are now complete.
“St Helens R.F.C. owns the best club rugby stadium in the country and, on completion of the funding programme, is positioned to perform strongly financially in the long term. It is now benefitting from the very substantial investment made by it in recent years.
“The club took its catering operation in-house after its catering contractor went into administration in 2013. This has resulted in a material improvement in hospitality and conferencing revenues in 2014 after the resultant major difficulties experienced in 2013.
“The projected improvement in the general economic environment is likely further to underpin this and other revenue streams of the club going forward.”