UPDATE 1-Tottenham Hotspur posts record year profit

Tue Nov 10, 2009 8:35am GMT
 
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* FY pretax profit 33.4 mln stg vs 3.0 mln stg

* Outcome boosted by player trading profit of 56.5 mln stg

* Revenue 113.0 mln stg vs 114.8 mln stg

* Shares up 0.25 pence (Adds further details)

LONDON, Nov 10 (Reuters) - English Premier League soccer club Tottenham Hotspur (TTNM.L) posted a record full-year pretax profit, boosted by a player trading profit of 56.5 million pounds ($94.13 million).

The north London club, known as Spurs, said on Tuesday it made a profit before tax of 33.4 million pounds in the year to June 30, up from 3 million pounds in the previous year, on revenue down 1.6 percent at 113 million pounds.

However, profit from operations excluding player trading and before restructuring and depreciation charges fell 31 percent to 24.1 million pounds.

Spurs finished in eighth place in the Premier League in the 2008/09 season and reached the final of the Carling Cup. They currently stand fourth in the Premier League's 2009/10 season.

It said funds generated from the sale of players such as Dimitar Berbatov and Paul Robinson were re-invested in buying the likes of Peter Crouch and the re-signing of Robbie Keane.  Continued...

 

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