Yahoo Finance Everton Announce Record Profits
Everton have revealed record profits of more than £28m for the 2013-14 season.
The profits of £28.2m come off the back of a 39%t rise in turnover to £120.5m, boosted by broadcast revenues of £88.5m, courtesy of the Barclays Premier League's new broadcast deal.
The Toffees' operating gains before player trading in the financial year ending May 31 were £23m, a massive increase on the £700,000 recorded during the previous campaign.
Marouane Fellaini, Victor Anichebe and Nikica Jelavic all left Goodison Park for hefty transfer fees with the likes of Arouna Kone, Joel Robles, Antolin Alcaraz, James McCarthy and Aiden McGeady coming the other way.
The current set of results do not however include the club record £28m purchase of Romelu Lukaku or the signings of Gareth Barry, Muhamed Besic and Samuel Eto'o.
On the pitch Roberto Martinez guided the team to fifth with a record Premier League points haul of 72 and chairman Bill Kenwright could not hide his delight.
"It was a special season that blended the optimism of youth, a much talked-about, bold new style, individual brilliance and an enduring team spirit that runs through every Everton squad," he said.
"A season that brought a club record Premier League points haul - a total that in almost any other year, would have sealed Champions' League football.
"It was a season that, quite simply, we didn't want to end."
The club managed to reduce its net debt from £45.3m in 2013 to £28.1m with gate receipts up £1.9m and sponsorship, advertising and merchandising revenue up from £7.6m to £8.4m.
"The strong results for 2013-14 are a reflection of the drive, commitment and hard work of all staff at the club," said chief executive Robert Elstone.
"Teamwork and clear priorities will always be fundamental to our success. And, at the most senior level in our club, the passion and talent of our outstanding manager fits seamlessly with the vision and dedication of our chairman.
"These combined efforts, shaped by a clear strategy, will continue to be targeted exclusively on ensuring the success of the Everton first team.
"Our financial results highlight growing revenues, costs remaining under control and debt reducing, and when we combine that solid financial base with a playing squad that continues to improve and increase in value, we have every right to be confident and positive on future prospects."
