Dublin: Aviva Stadium still in the red

source: Independent.ie

Dublin: Aviva Stadium still in the red New Stadium Ltd., company managing Ireland's national stadium, revealed a €2.3 million loss for 2012. Statistics are slightly better than for 2011, but a lot of effort still needs to be made, Independent.ie informs.

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The company that manages Dublin's iconic Aviva Stadium last year suffered a €2.3m loss despite playing host to 17 full-stadium events.

Rugby, football and concerts of Lady Gaga or Madonna didn't make up for the burden Aviva Stadium carries, with debts at €261.8m (including outstanding shareholder loans from the IRFU of €33.41m and €24.7m from the FAI).

The company's loss was fractionally better than the €2.4m figure for the previous year. Accounts filed with the company's office show New Stadium had an operating profit last year before depreciation and amortisation of €5m, compared with an operating profit of €4.5m in 2011.

"2012 marked the third year of operation at the Aviva Stadium," the accounts said.

"Further progress has been made in all areas of our business. This progress has resulted in an improved financial performance."

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