Viking announced profits

The Tippeliga club has announced profits of €294,000 for 2004 in its annual report, attributing part of the increase in revenue to the focus on the organization of concerts and conferences at the club over the past 12 months. Income before tax was €422,000 and turnover increased from €3.56m to €6.24m. Director Ole Rugland said: "It is a big improvement on 2003 and the best result we have had for many years. We knew more or less how much we make and then we had to look at how much the work on the stadium would cost." Sponsorship funds increased by €1.29m and ticket income doubled from €1.1m to €2.2m. Running costs and the players’ salaries also went up during 2004 but the club said that it had been able to recoup that and much more from using the stadium for non-football related activities. "With increasing income and continued focus on the finances we have the foundations to establish ourselves at the top of the Norwegian game at the same time as running a profitable organization," the report said.

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