Charlton Athletic reports profit

The Premier League club has announced a pre-tax profit of £11.12m for the year ended 30 June 2004, compared to loss of £464,000 in the corresponding period the year before. Turnover increased 21% to £42.61m from last year’s £35.14m, mainly due to significant increases in broadcasting revenue from last year’s £5.84m to £26.2m. Player transfers took significant factor for this year profit, especially the £10m sale of Scott Parker to fellow PL club Chelsea. Operating costs reported £37.97m a 17.5% increase comparing to last year. Personnel costs have risen 27% to £29.9m, representing 70% of turnover. The total cost of operating the squad was £27.6m, a rise of 29% mainly because of increased wage commitments to existing players and an increase in the number of senior players in the squad.

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