Charlton Athletic reports losses

The Premier League club announced its interim results for the six months ended 31 December 2004. Turnover fell by 8.4%, the main reason being the reduction in income received from the new three-year domestic and international contracts. However, match-day income and other commercial income increased during the period and the club reported that it has in excess of 21,000 season ticket holders. Club’s costs base rose by 7.6% mainly as a result of increased squad costs and the ratio of staff costs to turnover remains high at 76%. The club has developed and strengthened its squad using the profit from the sale of Scott Parker to Chelsea and has spent £7.6m on acquiring players. Chairman Richard Murray warned of the need to prevent television over-exposure to protect match day attendances and called for a fairer distribution of broadcasting revenues.

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