Wigan announce £7.2m losses

But Latics chief executive content with financial figures



Wigan have announced an increased net loss of £7.2m in the latest financial figures released by the Premier League club.

The deficit over the last 12 months has risen by £3.2m but chief executive Jonathan Jackson believes the overall results are "encouraging". The Latics reported a £4.9m profit in earnings before deductions, with turnover increasing by 16 per cent to £50.5m on the back of an improved Premier League broadcasting contract and stable salary costs.The Lancashire club's net debt was almost unchanged at £72.2m and more than half has since been converted to equity - writing off what was owed to chairman Dave Whelan.

Jackson said: "Despite the increase in net loss the results overall are encouraging. "By increasing turnover and controlling costs at the same levels as the previous year the club is continuing to progress to an annual break-even position. "We continue to strive to maintain our position in the Premier League by significant investment in the playing squad, while at the same time employing prudent financial management to ensure the club's long-term stability.

"This position would not have been possible without the continued financial support of Dave Whelan. "The club cannot continue to make losses every year and we are continuing to shape all aspects of the club to ensure the long-term future remains positive both on and off the pitch." - http://www1.skysports.com/