Brighton and Hove Albion cut its annual financial loss to £10.6 million in the year to Monday 30 June from £15.3 million a year earlier.
The fall in the operating loss was largely the result of a £4.5 million cut in administrative and operational costs to £12.1 million.
The football club made a profit of £1.7 million from player trading last season – during Oscar Garcia’s tenure as manager. The profit contrasted with a loss of £1 million in the previous season – 2012-13 – under Gus Poyet.
Turnover rose £600,000 to £24 million and the operating profit before football costs and depreciation went up from £6.7 million to £11.9 million.
The football budget rose from £19.9 million in Poyet’s final season to £20.7 million under Garcia.
The annual accounts, which cover the 2013-14 season, were signed off on Monday 1 December and filed with Companies House and the Football League.
The club’s financial results comply with the Football League’s Financial Fair Play rules.
The accounts include a five-page statement by the club chairman Tony Bloom, who is owed £130 million – up from £102 million a year earlier.
He has provided an interest-free loan to help pay the £32 million of the newly opened training complex in Lancing.
The club’s turnover – also known as revenue or income – included £10.4 million from ticket sales, p from £9.5 million in the previous season.
Income from commercial sponsorship and advertising rose to £4.9 million from £4.2 million but catering income fell from £1.8 million to £1.3 million.
To read the accounts, click here.
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