London Irish announce £1.06m loss in annual trading

Madejski Stadium
London Irish play their home games at the Madejski stadium

London Irish have announced a £1.06m loss in their annual trading results for the year ending 30 June 2011.

But that loss was down by over £1m from the previous year when they recorded a deficit of £2.09m.

Turnover increased by 9.2% to £8.24m while administration decreased 2.4% to £7.86m and cash outflows from operating activities reduced by 67.2% to £813k.

"The results are pleasing when set in the context of the economic climate," said Exiles chief Andy Martin.

The chief executive added though that he could not give any reassurances that players would leave the club in the summer.

"There will always be change and people will always come and go," Martin told BBC Radio Berkshire.

"People have different ambitions, both personal and club."

Two players rumoured to be leaving in the summer are lock Nick Kennedy and full back Delon Armitage.

But the club did announce the arrival of Leicester Tigers lock George Skivington and hoped to add more names in the coming weeks.

"George will be a great signing for us, is a proven player and has great leadership skills and has won some big trophies," he added.

"It is quite a busy time and we are talking to a lot of players. Toby has made it very clear who he wants to sign.

"But it's a balancing act, it's a matter of being smart, being clever and doing good business."