Addicks announce losses

Charlton have announced a financial losses of £5.1m (€7.5m) for the six-month period ending December 31, 2005.

The Addicks’ half-yearly report to the stock exchange today revealed a £19.5m (€28.1m) turnover while the company’s assets have risen by £6million following last year’s £5.5m (€8m) share issue in July.

Chairman Richard Murray told the club’s website, cafc.co.uk: “At the beginning of the season we made a conscious decision to use the money gained from an equity share issue to improve the quality of the squad and try to kick the club on to the next level.

“We had some success, with the performances of summer acquisition Darren Bent in particular very impressive. But it’s disappointing that Alexei Smertin and Danny Murphy have now left the club and injury has restricted Gonzalo Sorondo to only one league appearance so far.

“However, we are pleased that the turnover of the company has stayed broadly the same, and with our net assets increasing from £26m (€37m) to £32m (€46m) the underlying strength of the group is strong.”

The plc statement said: “Turnover for the period was £19.5m (€28.1m), unchanged from the comparable period to December 31, 2004, however the company has recorded a net loss for the period of £5.1m (€7.5m).”