ZURICH: Euro 2008, co-hosted by Austria and Switzerland, generated a net profit of 250m euros ($393.7m) for UEFA, European soccer's governing body said on Tuesday.

UEFA said the money would be used to finance its youth and women's competitions, refereeing and coaching programs and administrative costs.

Martin Kallen, chief operating officer for the event organizers, said that in comparison with the 2004 finals in Portugal the 2008 event had seen improvements "in almost all areas", including satisfactory television viewing figures, high public transport usage and the lack of any major security incidents.

Organizers said poor weather at the start of the tournament and the black market resale of tickets had been among the less satisfactory aspects.

More than 1.7 million ticket applications were canceled before the event in connection with the black market, with a further 1,300 tickets canceled or seized during the tournament itself.

Source:China Daily