Football
Ben Gladwell, Italy correspondent 8y

Juventus announce profit for second year running, €1.8m rise on last year

Juventus have reported an operating profit for the second year in a row, with the preliminary results of the 2015-16 trading year published on Wednesday.

The Turin-based club have announced a €4.1 million profit for the year ending June 30, 2016 -- a rise of €1.8m on the previous year.

When repayment of interest on loans was factored in -- largely the one used to finance construction of the Juventus Stadium, which has accordingly been renegotiated -- the club's net financial debt grew over €10m to €199.4m.

Juve won a fifth successive Serie A title last season, while also clinching the Coppa Italia, although their Champions League campaign was ended in the round of 16 by Bayern Munich.

The financial results will be presented for approval at the club's annual general meeting next month.

Meanwhile, Juve have confirmed work is progressing on their new headquarters and training facilities, which will be located on an area of land located adjacent to the Juventus Stadium.

The first phase, which will see an international school, hotel, training and media centre built, as well as Juve's new registered office, has already commenced.

The first structures should be completed by the beginning of summer 2017.

"The company's goal is to consolidate the substantial equilibrium of operating profit achieved in the past two years," read a Juve statement outlining the club's business outlook.

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