Charlton profit boosted by transfer fees

Charlton Athletic Football Club (CAFC) has announced pre-tax profits of £11.1m pre-tax profit – thanks to the £10m sale of midfielder Scott Parker to London rival Chelsea in January 2004.

However, the club – reporting its figures for the year to 30 June 2004 – made a net loss of £0.5m if player transfers were disregarded.

Turnover at the club increased to £42.6m from £35.1m the year before and the launch of new playing strips helped retail revenues jump by 22 per cent.

Richard Murray, chair, said: “We increased our turnover and although the company made a net loss of £0.5m before player sales, the £11.7m brought in by transfers resulted in a net profit of £11.1m.

“The increase in turnover was generated mainly by increases in the basic distribution of television receipts from the collective broadcasting agreements and the additional prize money.”