Brighton and Hove Albion made an £11.3 million profit in the 2017-18 season, the club’s first season in the Premier League.
The figures show a significant financial boost for the club, as turnover increased from £29.2 million to £139.4 million as a result of the Premier League revenues — with a swing into the black from a £38.9 million loss in the preceding season.
The accounts also show that the club fully complied with Premier League Profitability and Sustainability (Financial Fair Play) Regulations for the period.
The increase in turnover also saw a corresponding increase in operating expenses from £59.3 million to £130 million – due to Albion’s promotion to the top flight.
The club has once again taken the step of making the annual accounts – including an annual statement from chairman Tony Bloom – publicly available to all supporters.
It has also published a “modern slavery statement” which is required for all British businesses with a turnover of more than £36 million.
Chairman’s statement
We worked incredibly hard to reach the Premier League and those considerable efforts have paid off for the club. It has helped put us on a firmer financial footing, has boosted our national and international profile and positions us well for a bright future.
Our first-ever Premier League season was a successful one on the pitch for our club. These figures also show it was a success off the pitch, especially in terms of the club’s finances, as we made a profit for the first time in our recent history.
The infrastructure, processes, people and principles we have had in place at the club for some time served us well during our first season in the Premier League and I’m confident these foundations will continue to serve us well at this level.
Chris Hughton’s astute and skilful leadership, allied with his calmness under pressure has been vitally important. He has again been well supported by his coaching and backroom staff and by all the many different departments across our club which remain important components of our recent success.
On the subject of astute and skilful leadership, I would also like to thank our chief executive Paul Barber. He’s now in his seventh season with the club and has overseen a period of significant progress, success and growth, both on and off the pitch.
In recognition of the way the club is continuing to grow and develop, the board has decided that in addition to his current responsibilities as our chief executive, Paul will become deputy chairman of the club – a promotion that is well deserved.
Paul has declined recent opportunities to move to bigger clubs, preferring instead to invest his energies and considerable football experience to help establish our club in the Premier League. The club’s board and I are delighted that he has chosen this option.
While talking about our board of directors, I would once again like to thank each and every one, the majority of whom give us their time and expertise without charge, for their continued support and wise guidance. We are extremely fortunate to have such a committed, talented and stable board helping to steer our club during such an exciting period in our history.
