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Albion reveal reduced profit

West Brom have announced a pre-tax profit of £1.5m for the year ending 30 June 2012.

Last Updated: 12/03/13 at 12:23 Post Comment

Shane Long: Arrival from Reading had impact on West Brom's accounts

Shane Long: Arrival from Reading had impact on West Brom's accounts

That figure represents a drop in surplus from the £9.1m for the equivalent period 12 months earlier and takes into account the £6m signing of Shane Long from Reading in the summer of 2011.

Turnover was up to a record £66.7m, 74% of which was paid out in salaries, while the club's net debt has been reduced from £2m to just £500,000.

Club chief executive Mark Jenkins said in a statement: "The club has continued to invest in its playing squad, both in transfer fees and wages and total salaries now exceed £50m per year.

"However, with careful budgeting and tight financial controls, we have managed to match our revenue to our costs and record a pre-tax profit of £1.5m."

The financial report is the first full set of accounts released by West Bromwich Albion Group Ltd since its formation in August 2010.

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