25/04/2008
Football club operator Watford Leisure says it is in ‘very preliminary discussions’ after receiving a ‘tentative approach’.
The AIM-quoted company, whose Watford Football Club is faring well in the Championship after a brief spell in the Premiership, has been performing creditably on the financial pitch of late, too. After turning a £5.6 million loss into pre-tax profits of £8 million in the year to last June, on turnover up from £8.5 million to £29.5 million, the company increased pre-tax profits from £1.4 million to £4.1 million in the six months to December.
These moves have helped bring life back to the shares, which fell from 57.5p at the end of 2005 to 18.5p last month. They are now 32p, up 13.5p this morning, and have speculative appeal.
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