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Wednesday, October 05, 2005

Spurs announce record results!

Not on the pitch though. On the stock market.

Good going. I'm glad we've finally got a board and management that actually know what they're doing.

LONDON (SHARECAST) - Restructuring at Tottenham Hotspur has resulted in record turnover and operating profits for the Premiership football club.

Turnover rose 6.5% to £70.6m from £66.3m previously, while operating profit jumped by 27% to £12.8m, thanks to a 30% increase in merchandise revenue and higher gate receipts from cup competitions.

The group swung back to a pre-tax profit of £4.9m compared to the £2.5m loss previously, as a result of the £5.6m gained from player disposals.

“These are record results producing the club's highest ever turnover and operating profits,” said chairman Daniel Levy.

“In addition we retain an enviable net debt position despite investing heavily in the squad over the past couple of years.”

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