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Everton announce mixed news in annual accounts

Everton have announced a record turnover in their latest accounts -- but also made a £4.1m loss and saw their net debt increase.

The club's annual accounts for the 12 months to May 31 2015, published on Wednesday, showed that their turnover -- the amount of money taken in before costs -- rose to £125.6m, up from £120.5m a year earlier.

Around 65 percent of that turnover was broadcasting revenue from television contracts, which dropped slightly from £84.8m to £81.7m.

That reduction was offset by increases in commercial and sponsorship income, and in gate receipts.

The money taken from ticket sales went up from £16.8m to £17.9m, helped by Everton's run to the last 16 of the Europa League last season.

In addition, the club added 4,000 season ticket holders during 2014-15, taking the total to 28,000.

Everton's overall pre-tax loss of £4.1m is a significant change to the £28.2m profit they made in 2013-14.

Those figures were influenced largely by the fact that the club made a £19.5m loss in player trading in 2014-15.

Everton agreed to pay a club record £28m to Chelsea for striker Romelu Lukaku in July 2014, which made a significant difference to their player trading figures, which had been boosted the previous year by the £27.5m sale of midfielder Marouane Fellaini to Manchester United.

Operating profit -- which is the profit made before player trading is taken into account -- fell from £23.7m to £16m, largely because staff costs went up by 12 percent to £77.5m.

The club gave new contracts to manager Roberto Martinez, midfielder Ross Barkley and defenders Seamus Coleman and John Stones during the period covered by the latest accounts.

Having reduced their net debt significantly during 2013-14, Everton saw it rise again during 2014-15, by £3.2m to £31.3m.

Everton chief executive Robert Elstone said: "Our financial performance, like so many Premier League clubs, was underpinned by the second year of a TV deal that beat all expectations, but also by increases in matchday and commercial revenues.

"We also continue to work hard managing and controlling our cost base and remain determined to ensure investment and spending is effective and delivers returns."