Business

Tottenham Hotspur in profit thanks to Champions League

Rafael van der Vaart celebrates after scoring during Tottenham Hotspur v Inter Milan Uefa Champions League match at White Hart Lane
Image caption Spurs signed Rafael van der Vaart for £8m to help its Uefa Champions League campaign

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.

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