13:15 ET<\/span>
\n<\/span><\/p>\nTottenham Hotspur Football Club has returned to profit thanks to its success in Europe this season.<\/p>\n
The club made pre-tax profits of \u00a34.2m ($6.76m) during the last six months of 2010, up from a loss of \u00a38.3m over the same period the previous year.<\/p>\n
Turnover increased 49% to \u00a379m.<\/p>\n
“Our first-half figures reflect a strong performance, buoyed by the contribution from our participation in the Uefa Champions League,” said chairman Daniel Levy. <\/p>\n
Tottenham’s operating expenses rose to \u00a361.5m, up from \u00a348.6m, due primarily to the costs associated with having a larger squad. <\/p>\n
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.<\/p>\n
It said merchandise sales increased by 22% and sponsorship and corporate hospitality revenue grew from \u00a312.7m to \u00a316m.<\/p>\n
Spurs returned to Europe’s elite competition for the 2010-11 season, having waited 48 years. <\/p>\n
The club qualified for the Champions League by finishing fourth in the English Premier League last season. <\/p>\n
It faces Real Madrid in the quarter-finals on Tuesday.<\/p>\n<\/p><\/div>\n<\/p>\n
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