Baggies post profit of more than £9m
WEST Bromwich Albion has returned a set of largely positive results.
It revealed a fall in net debt after the club’s return to the Premier League helped it to post a profit of more than £9m. And the club revealed an improvement in profitability in the financial year ending June 30, 2011.
The club reduced its net debt from £10m to £2m across the financial year.
Albion chairman Jeremy Peace’s prudent approach to transfer spending – not always popular with the club’s supporters – continued. The figures show Albion spent £5.2m on new signings but received £8.2m back from players who were sold.
However, like other Premiership clubs, West Brom has seen its wage bill spiralling. Contracts rose from £37m to £48m as the club sought to hold on to its best players.
