Swans announce record profit

Swansea have announced a record profit of £15.9million for the six months up to the end of November 2012.

Last Updated: 08/04/13 at 19:12 Post Comment

The profit announced by the club on Tuesday is almost £10million more than for the same period in 2011.

The Swans returned a profit of £14.6million for their first season in the Premier League.

The profit before tax of £20.4million was made up of a £5.6million profit from operations, while a further £14.8million came from player sales, including those of Joe Allen to Liverpool and Scott Sinclair to Manchester City.

Turnover, with the exclusion of player sales, has also risen to £28.5million, a growth of 11.5 per cent from the £25.5million for the previous six months.

Finance Director Don Keefe said: "The funds generated by the profit are invaluable bearing in mind the extent of finance needed, not only to maintain Premier League status, but for the expansion of capacity in the Liberty Stadium and the development of appropriate training facilities of a standard befitting a Premier League club."

A budget of £5.5million - most of which has been spent - was allocated for the development of a new training ground in Landore, which is now operational, while work is under way on another training facility being built in conjunction with Swansea University in Fairwood.

Plans for the initial phase of expanding the club's Liberty Stadium home have been submitted to the local planning authority.


Click here for completely free £10 bet with Sky Bet


Related News

Most Commented

Readers' Comments

I

cant help but feel he has his face on inside out. I'm not a violent man but I don't think I would ever tire of punching it.

dryice
Chelsea reject blames fee

E

verytime I go into KFC I boooooooooooo Norman. Judas. It was the lure of the fresh hand wipes apparently.

cheshire-gooner
Cole explains Arsenal 'snub'

Y

ou probably find he was physically ill when he found out they werent paying him to come to the celebrations.

sodoff
Cole explains Arsenal 'snub'

Footer 365

Liverpool lose to Besiktas 5-4 on penalties after Turkish side win round-of-32 second leg 1-0

Liverpool crashed out of the Europa League as Dejan Lovren missed the decisive penalty in a 5-4 shoot-out defeat by Besiktas.

Oldham 'would welcome Scholes'

Stand-in boss Dean Holden insists he would not be surprised if Oldham managed to lure Paul Scholes into management.

Chelsea announce huge shirt sponsorship deal with Yokohama Rubber

Chelsea have announced a new shirt sponsorship with Yokohama Rubber, reportedly worth £40m-a- year.

Mail Box

Greatest Spaniards And Arsenal Laughs

There's more debate on the greatest Spaniards in the afternoon mailbox, plus plenty more reaction to Arsenal's Champions League defeat.

Arsenal Mess It Up, As Inevitable As Ever

Unsurprisingly, there's a great deal of fall out after Arsenal's latest shambles against Monaco. Plus how Football365 went too early with the phrase 'peak Arsenal'...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company