SOO Southampton LS.

    RNS Number : 7866Z
  Southampton Leisure Holdings PLC
  24 July 2008
   




    Southampton Leisure Holdings Plc
    ('the Company')

    Trading Update


    The Board of Southampton Leisure Holdings Plc is today providing a Trading Update prior to the release of its financial results for the
year ended 30 June 2008 and in advance of the start of the 2008/09 football season.

    Finance Director David Jones said 'The Company has seen a number of management changes during the financial year and with the
preliminary announcement of the years results to 30 June 2008 not due for 10 to 12 weeks, we thought it would be appropriate to provide all
stakeholders with an indication of the financial results for the year just completed. With the loss of the parachute payment from the
Premier League and reduced ticket and commercial income, revenue for the year is expected to be around �14m with a loss before tax of around
�5m". 

    The financial results will show an increase in the level of borrowings which has necessitated extensive discussions with the Company's
bank and loan note holder, both of whom remain supportive of the board's approach.

    Chairman Rupert Lowe added, " The Directors are aware that this is clearly not sustainable and are concentrating on reducing costs,
however the Directors remain hopeful about the prospects for the forthcoming season. Jan Poortvliet and Mark Wotte are very excited about
what will be a young dynamic team determined to play fast and attractive football. I hope everyone involved with the Club will get behind
Jan, Mark and the team."

    Southampton Leisure Holdings Plc expects to release its audited accounts in October.

    Enquiries:

    Southampton Leisure Holdings              0845 688 9448
    Jonathan Wright                                   020 7107 8000
    Seymour Pierce Limited


    Note:
    The above financial information has neither been audited or reviewed pursuant to guidance issued by the Auditing Practices Board.

This information is provided by RNS
The company news service from the London Stock Exchange
 
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