Tuesday, October 8, 2013

News: Profits maintained at ASD

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ASD Lighting Holdings Limited, the holding company for Rotherham lighting manufacturers, ASD Lighting, and Rotherham United Football Club has released its financial results for 2012, indicating steady profits for both subsidiaries.

ASD is owned by Rotherham United chairman Tony Stewart who saved the club in 2008.

The latest financial results for the Barbot Hall company showed that pre-tax profits were maintained at £3.7m in the year ending 31 December 2012.

Rotherham United, promoted to League One last season in their £20m New York Stadium, posted a small profit of £29k.

Turnover during the year increased to £25.8m from £23.3m in 2011 with £21.4m attributed to ASD and £4.4m at the football club (an increase of nearly £2m on the previous year).

2012 accounts also reveal that ASD's sponsorship deal with Rotherham United is now worth £1.5m.

Last year the holding company provided a £3m loan to support the construction of the new £20m stadium and during 2012, a £7.5m loan was made to RU Estates Ltd, the company established to lead on the stadium development.

Also in 2012, Rotherham United secured support and working capital facilities from Barclays to fund the construction of the stadium on the edge of Rotherham town centre.

ASD has had unrivalled success in the LED market and continues to develop new outdoor lighting systems.

With Tony Stewart as chairman and his son, Richard Stewart, as vice chairman, the club's board contains experienced directors who also have senior roles at ASD Lighting.

Stewart saved The Millers in 2008 when he brought them out of administration via a Creditors Voluntary Agreement. His chairmanship has provided stability, investment and a professional off-field set-up despite having to play home games at the Don Valley Stadium in Sheffield after leaving Millmoor.

His most important achievement as chairman is seeing through his vision of building a brand new stadium and bringing the team back to their home town.

Proud fans are backing the investment, the club is averaging over 9,000 attendances this season and recently broke the highest attendance record when 11,758 saw Rotherham United beat local rivals Sheffield United 3-1 in September.

ASD Lighting website

Images: Rotherham United

1 comments:

Anonymous,  October 8, 2013 at 1:29 PM  

Long live the King.

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