ARENA OWNERS LOST Pounds 100K IN 08; Filed Accounts Reverse Claim of Pounds 16k Profit
Byline: ALEX TURNER
THE success of Liverpool's Capital of Culture year could not prevent the company that owns the ECHO Arena losing more than pounds 100,000.
ACC Liverpool, which includes the BT Convention Centre, made a pre-tax loss of pounds 106,000 in the year to March, 2009.
That's despite it trumpeting a pounds 16,000 pre-tax profit six months ago - a figure based on its unaudited accounts.
ACC Liverpool chief executive Bob Prattey put the net pounds 122,000 negative swing down to "a series of small adjustments" and said the changes were small compared with ACC's pounds 12.3m turnover.
Mr Prattey, who earned pounds 178,000 plus pounds 28,000 pension contributions, said: "It's quite normal to see changes. The additional accruals of expenditure were things we found ourselves during the period between producing unaudited and audited accounts.
"It's quite normal to get some minor adjustments."
Speaking when the unaudited figures showed a small profit, Mr Prattey said: "Our original business plan showed a profit in the first year, because of the effect of Capital of Culture, and then a deficit in year two, reflecting a normal business pattern for a new enterprise of this kind."
However yesterday he said "The business plan that [the report] …
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Publication information: Article title: ARENA OWNERS LOST Pounds 100K IN 08; Filed Accounts Reverse Claim of Pounds 16k Profit. Contributors: Not available. Newspaper title: Liverpool Echo (Liverpool, England). Publication date: February 10, 2010. Page number: 4. © 2009 MGN Ltd. COPYRIGHT 2010 Gale Group.
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