£4m profit for Spurs

Tottenham have announced pre-tax profits of £4.4m (€6.3m) for the six months ended December 31, 2005.

The north London club’s turnover for the period was £36.3m (€52m), up from £32.9m (€47.2m) for the same period the previous year.

Spurs chairman Daniel Levy said in a statement to the Stock Exchange: “We shall look to consolidate the areas that have seen change and to continue to improve performance in all departments within the club. Much has been achieved and there is still much to do.”

The sale of players such as Fredi Kanoute, Erik Edman and Timothee Atouba contributed to an £8.3m (€11.9m) profit on the sale of intangible fixed assets.

Gate receipts were healthier to the tune of £1.4m (€2m) when compared to the same period of 2004, but the early exit from the Carling Cup at the hands of Grimsby has slashed cup gate receipts by £1m (€1.4m) compared to the six months to the end of 2004. Losing to Leicester in the third round of the FA Cup in January will have an impact on the next set of figures.

Media and broadcasting revenues fell by £1.1m (€1.6m), largely due to appearing in three fewer live matches.

Levy insists the club will continue their policy of investing in young talent, with Spurs possessing some of England’s most exciting up-and-coming players.

“We will continue to look for excellent young talent in a bid to ensure the club is in the best possible position to prosper now and in the future,” Levy added.

“A lot of investment continues to be focused on academy recruits, with scouting taking place throughout the world looking for, and competing for, stars of the future.”