London Stadium caterers Delaware North have revealed a loss of £1.6m in financial accounts published earlier this week.
Delaware North Companies (UK) Hospitality Services Limited runs stadium catering for Arsenal, Derby County, Charlton, Fulham as well as the London Stadium said £1.3m of income came from the London Stadium in the first four months of trading.
The accounts reveal that from a turnover of £27m and cost of sales of £7.5m the company recorded a gross profit of £19.4m but after factoring ‘administrative expenses’ of £20.8m they made a loss of £1.6m.
Figures released under freedom of information showed an average catering revenue of £281,331 per match which could mean a turn over of £7m next year for the London Stadium.
In the London Stadium concessionaire agreement, West Ham shares 30% of catering revenue profit on anything over £500,000 each year. However, with Delaware North recording a loss overall it remains to be seen if West Ham will see any profit-sharing anytime soon.
A senior source close to the club told Claret and Hugh:“If we had the capacity we are entitled to and they were fully stocked they would probably have made significantly more money!”
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