The owner of Blackburn Rovers made its first pre-tax profit in 10 years after the Championship club sold its training ground, it has been revealed.
Venkys London Ltd has reported a pre-tax profit of £2.6m for the 12 months to March 31, 2022, up from a loss of £21.4m in the prior year.
Venky’s London Ltd was set up in October 2010 ahead of their purchase of the club and owns almost 100% of Rovers.
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In June 2021, Blackburn Rovers sold their senior training facility for £17.3m to Venkateshwara London Ltd, a business set up by Venky’s London Ltd.
It is the first time that Venky’s London Ltd has been in the black since reporting a £826,798 pre-tax profit for the period from October 13, 2010, to March 31, 2012.
The newly-filed accounts with Companies House also show that Venkys London Ltd’s revenue increased from £12.6m to £17m in the year.
The business said the rise was due to the emergence from the Covid-19 pandemic and a “return towards normality”.
It added that Government restrictions had prevented supporters from attending any games during the 2020/21 season which resulted in a loss of ticket and hospitality revenue.
In April 2022, BusinessLive reported that losses had been slashed at Blackburn Rovers to their lowest level since 2017 after the club sold their training centre.
The Ewood Park club posted pre-tax losses of £6.5m for the 12 months to June 30, 2021, compared to losses of £21.9m during the prior year.
Rovers also reported a turnover of £14.4m for the year, a rise from £13.5m.
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