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Everton announce record turnover

Everton have announced a record turnover of £75.7million and a slight pre-tax profit in their latest statement of accounts.

The club announced on Wednesday that revenues for the financial year ended May 31, 2008 increased by 47 per cent compared to the previous 12-month period.

Before player trading, they made a profit of £6.8million compared to a loss of £500,000 the year before.

Transfer dealings, however, almost cancel the figures out with the balance sheet ultimately showing a pre-tax profit of £260,000 on its bottom line. Last year the club lost £9.4million.

Chairman Bill Kenwright said in his report: "Our determination to ensure that our first-team squad is constantly upgraded has had an effect on the club's balance sheet but, as ever, we have benefited from what I would call sensible and careful fiscal management during a period which was, in pure financial terms, hugely challenging."

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