Stadium operators reveal a profit in first year

French Stadium Operators, London Stadium 185 have revealed a profit in their first full year of trading, financial accounts published at companies house have revealed. The Vinci group subsidiary turned over £6.9m in the year ending December 2015 managing to post a modest profit of £120,000.

London Stadium 185 Ltd received a fixed revenue of £2.84m from stadium owners E20 Stadium LLP to manage the stadium but the operator also recharged an additional £1.95m back to the Stadium owners during the year meaning Newham council and the London Legacy Development Corporation (LLDC) forked out £4.79m between them for the stadium.

The stadium operator received an additional £494,000 of income of American caterers Delaware North and £131,000 from Fanzones created for certain events.

From the non football events hosted last year L185 listed the following income as revenue in their accounts.

Great Newham run £138,279

UK Athletics £474,590

Rugby Barbarians Match £120,000

Rugby Football League £223,750

Race of Champions £456,572

London Mayors Office £32,109

Interestingly no income is recorded for the Rugby World Cup.

The stadium operating company is run by Linda Lennon CBE, former head of the parole board and royal parks. The company lists just 11 employees excluding executive directors as most of it’s responsibilities is outsourced to companies like OCS and Delaware North.