Ricky Hatton's businesses made £7.8m profit in 2009

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Boxer Ricky Hatton

9:02 am, June 22, 2010
Ricky Hatton's businesses made £7.8m profit in 2009

By James Chapelard

A holding company for boxer Ricky Hatton's business interests made a £7.8m profit in its first year of trading.

Punch Promotions Ltd, which includes boxing promotion, the operation of a fitness centre in Hatton's home town of Hyde, wholesaling of clothing and equipment and internet and television broadcasting revenues, posted sales of £11.6m in the year to the end of November 2009.

According to the accounts, the four operations were brought under one company at the beginning of the year.

The directors, which include Hatton, his father Ray, and accountant David Evans said: “In its first trading period the group achieved its primary goal of establishing foundations, by its four trading subsidiaries, in businesses ancillary to the sport of boxing.”

The directors said each unit incurred start up costs which are not detailed in the accounts.

They added: “The capital expenditure budget has been fully utilised and there are no immediate plans for any further material capital projects.”

“The group has set additional funds aside to develop and establish further market share for the Hatton name with the merchandising business being specifically targeted for increased sales and profitability in the future.”

At the year end, shareholder funds stood at £27.8m.

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