Tottenham Hotspur in profit thanks to Champions League
Tottenham Hotspur Football Club has returned to profit thanks to its success in Europe this season.
The club made pre-tax profits of £4.2m ($6.76m) during the last six months of 2010, up from a loss of £8.3m over the same period the previous year.
Turnover increased 49% to £79m.
"Our first-half figures reflect a strong performance, buoyed by the contribution from our participation in the Uefa Champions League," said chairman Daniel Levy.
Tottenham's operating expenses rose to £61.5m, up from £48.6m, due primarily to the costs associated with having a larger squad.
But in the club's half-yearly report it said this was off-set by the "significant increase in revenue" the club brought in from its campaign in Europe this season.
It said merchandise sales increased by 22% and sponsorship and corporate hospitality revenue grew from £12.7m to £16m.
Spurs returned to Europe's elite competition for the 2010-11 season, having waited 48 years.
The club qualified for the Champions League by finishing fourth in the English Premier League last season.
It faces Real Madrid in the quarter-finals on Tuesday.