Rangers reports interim profits

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The Premier League club has published its interim financial results for the six months period ended 31 December 2005.

As a result of reaching the knockout stages of the Champions League, turnover rise 30.4 percent to GBP 40.33. Profit before interest and tax also rose by 23.9 percent to reach GBP 6.83 million, pre-tax profits were up by 73.8 percent to GBP 6.15 million producing earnings per share up from 5.6p to 5.7p, a small rise because of the increase in the club’s share capital.

Club’s chairman David Murray said in a statement to shareholders: "Our revenue benefited from UEFA Champions League football, but we have, at the same time, controlled costs so that much of our increased revenue has come through as profit in this six-month period."