Tottenham Hotspur Football Club has announced a profit of £4.2m for the six months ending December 31st 2010 with the club’s participation in the UEFA Champions League playing a significant role.
The Barclays Premier League side saw revenue increase by 49% with cup competition and gate receipts growing from £20.3m from £1.9m and merchandise up 22%.
Sponsorship and corporate hospitality also benefitted from Spurs partaking in UEFA’ elite club competition as it rose to £16m from £12.7m whilst Premier League gate receipts and media revenue saw small increases up to £10.8m and £21.1m respectively.
Tottenham Hotspur Daniel Levy recognised that continued participation in the Champions League would be crucial to building revenue in the future.
"Our first half figures reflect a strong performance, buoyed by the contribution from our participation in the UEFA Champions League. Our investment over the years in the first team has produced our recent successes," Levy said.
"Our challenge going forward will be to continue our success on the pitch, to create and produce greater revenue streams and to invest prudently in capital growth projects, alongside controlling our operating expenses," he added.
The club’s profit represents a turnaround on the same period for last year during which it suffered losses of £6.1m.