Business

Wigan makes first profit for six years

Image caption Wigan's mascot at the club's home ground

Premier League football club Wigan Athletic has posted its first profit in years as it trims salaries and cuts debt.

The club reported a net profit of £4.3m for the year to the end of May, compared with a loss of £7.2m the year before.

It is the first time in six years Wigan has made a profit.

Wigan ended the season covered by the figures in 15th place in the top-ranked Premier League.

Turnover was £52.6m, up from £50.5m.

Wages were the club's biggest expenditure, although the bill has fallen to £37.7m, compared with £39.9m.

It spent £10.4m on new players, and gained £7.9m in profit from player sales, including that of Charles N'Zogbia to Aston Villa.

Debt, which includes borrowings and loans from Wigan's chairman Dave Whelan and his family, was cut to £20.5m from £72.2m, with £48m in borrowings converted in to shares in the club.

Wigan's chief executive, Jonathan Jackson, said the club was getting closer to breaking even: "The results are once again encouraging and we are very pleased to report a net profit position in a very competitive environment."

"We continue to maintain our position in the Barclays Premier League by significant investment in the playing squad to strengthen our position on the field in our eighth year in the top division."

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