Leeds Rhinos owner Paul Caddick’s accounts make for interesting reading

Leeds Rhinos owner Paul Caddick has posted a number of impressive turnover numbers – though his rugby league venture struggled in 2021.

West Yorkshire contractor and developer Caddick was able to mitigate the effects of the pandemic, but the group was unable to stem the losses associated with the Leeds Rhinos rugby league club.

The firm said group revenue was up 29% to £384m with pre-tax profit rising nearly 10% to £17.1m in the year to August 2021.

Its biggest business is its property development arm which includes build-to-rent specialist Moda Living with this part of the group accounting for £228m of turnover, a rise of 37%. Pre-tax profit fell by just over £360,000 to £14.7m

Caddick’s sporting organisations centre around Leeds Rhinos which Caddick founder Paul Caddick bought a quarter of a century ago.

Accounts for this business showed turnover failing to move from around £8.5m with pre-tax losses rising from £1.6m to £2.2m, according to Building.

That was down to the lack of supporters that would usually pour into Headingley because of Covid-19 restrictions which had had a devastating effect on numbers. “Even with the easing of restrictions there continued to be a muted return of spectators to the end of the season,” it added.