Brief: Sporting Says Q1 Net Result Turns To Profit Of 18.7 Mln Euros YoY

Sporting Clube De Portugal Futebol SAD

08/11/2021 06:30

Nov 8 (Reuters) - Sporting Clube de Portugal Futebol SAD
 SPSO.LS :
    * SAID ON SATURDAY Q1 2021/22 NET PROFIT 18.7 MILLION EUROS
VERSUS
LOSS 4.2 MILLION EUROS YEAR AGO
    * Q1 2021/22 REVENUE FROM PLAYER-RELATED DEALS 9.2 MILLION
EUROS
VERSUS 10.3 MILLION EUROS YEAR AGO
    * Q1 2021/22 OPERATING REVENUE EXCLUDING PLAYER RELATED
DEALS 46.3
MILLION EUROS VERSUS 18.2 MILLION EUROS YEAR AGO
    * Q1 2021/22 OPERATING RESULTS 21.0 MILLION EUROS VERSUS
NEGATIVE
1.8 MILLION EUROS YEAR AGO
    * SAID IN Q1 IMPACT OF REDUCTION IN REVENUES DUE TO GAMES
HELD
BEHIND CLOSED DOORS OR WITH RESTRICTED ACCESS REACHED 2.5
MILLION EUROS
    * SAID THIS IMPACT WAS PARTIALLY MITIGATED BY REDUCING COSTS
BY
0.5 MILLION EUROS, WHICH RESULTED IN OVERALL NET LOSS OF 2
MILLION EUROS, CONSIDERING ESTIMATED LOSSES FROM PANDEMIC AT
VARIOUS LEVELS OF COMPANY'S BUSINESS
    * SAID SINCE PANDEMIC STARTED SPORTING LOST ABOUT 30.1
MILLION
EUROS OF DIRECT REVENUE, HAVING MANAGED TO REDUCE COSTS BY 8
MILLION EUROS, THUS RECORDING NET LOSS OF 22.1 MILLION EUROS

    
 Source text: https://bit.ly/3GZ6wAM
 Further company coverage:  SPSO.LS  

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