Leeds Rhinos say they remain Super League’s most profitable club despite a “challenging year on and off the pitch” in 2016 per their latest annual accounts.
Leeds Cricket, Football and Athletic Company Limited, the owners of Leeds Rhinos, have published their annual accounts for last year and, after a record-breaking 2015 for the Rhinos, the club say that created a “tough position to replicate in the following twelve months”.
However, for the sixth consecutive season, Leeds have made a profit – with 2016’s accounts showing a profit for the 13th time in 15 years.
Operationally, turnover in 2016 fell by 13.47% in the main due to the absence of significant prize money and the level of retail sales enjoyed in the previous successful year.
Gate receipts were behind on budget with Super League gate receipts down by 4%. Corporate sales enjoyed another good year however, and the World Club Challenge generated a one-off source of income similar to the international friendly against New Zealand the previous year. The other revenue streams were generally on budget and the overheads were maintained at budgeted levels.
All in all, the club produced a pre-tax profit of £371,381. Chief executive Gary Hetherington said: “It is a good result in difficult circumstances and the surplus will again be invested into our people and facilities.”