Sunderland AFC has announced its financial results for the year ending July 31st 2010.
The club's accounts reflect the ongoing development of the business, both on and off the pitch, and highlight areas such as turnover, operating expenses and player costs.
The figures show that for the period ending July 31st 2010, turnover increased to £65.4 million, rising slightly on figures announced in the previous period despite difficult economic conditions.
The club's operating expenses (which includes staff/player wages, match costs, utilities etc) have risen to £70.4 million, resulting in a loss of £5 million before player trading.
Player amortisation costs for the period of £26.2 million reflect the investment in ten additional players added to the squad on a permanent basis and three loan signings, during three transfer windows. This results in a net loss of £25.5 million.
Sunderland's owner Ellis Short has also converted loans of £19 million into shares in the business.
Commenting on the figures, Sunderland AFC chief executive Steve Walton said: "We are facing challenging economic times, both nationally and regionally, however our financial results do continue to reflect a continued period of growth and development for the club.
"There has been significant investment made to improve our playing squad and we are now starting to see the benefits of that investment. The continuing support of our owner also puts the club in a secure position, giving us a positive platform to continue to build on."
