The company behind Leeds Rhinos have reported a significant pre-tax loss in excess of £2million in their latest accounts. The Super League club's latest accounts, which cover the period year ending 31 October 21, show a pre-tax loss of £2.5million, with the report accompanying the accounts citing the continued impact of the Covid-19 pandemic.
That is up from £1.2million in 2020, ensuring the company - Leeds Cricket, Football and Athletic Company Ltd - have lost a significant seven-figure sum for the second consecutive year. Turnover was also down, with the company turning over £8.5million, down from £8.7million in the previous year's accounts.
Wages and salaries were reduced from £4.4million to £3.9, although the company did receive significantly less in grants from the Government's Covid-19 Job Retention Scheme. That figure dropped to £239,809, down from £897,414.
In their report accompanying the accounts, the directors said: "Nonetheless the pandemic impacted greatly on the club and its fans, with postponements arising due to outbreaks at several Super League clubs. The club remains hugely grateful to the ongoing support of its fans and their commitment to returning to games despite the uncertainties."
The Rhinos are expected to be far from the only Super League club to report continued financial uncertainty and downturn as a result of the pandemic. The impact of the Rugby League World Cup being postponed by 12 months was also cited in the report as a major figure for the losses.
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