Premiership: Leeds Sporting score high profits - despite Rio signing

Leeds Sporting has reported a massive turnover increase in its interim results, despite costly signings to the club.

Turnover has jumped by 67% to £41.0m with operating profit - after stripping out the costs of players - up to £6.2m.

Analysts had been worried that Rio Ferdinand's £18m price tag would eat into the club's profits.

Investors have been heartened by strong results on the pitch, after the club achieved qualification for the quarter finals of the Champions League.

The long-term future of the club has also been safeguarded with heavy investment in younger players.

Despite expensive signings, wage costs were down 2.3 points to 46.4% as a percentage of sales.

Peter Ridsdale, chairman of Leeds Sporting, commented: "We are reaping the benefits of our strategy of focusing on our core skill-set.

Our investments in the team and in the business infrastructure are delivering excellent results both on and off the pitch."