Date: 23rd March 2007 at 12:01pm
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Swansea City have made a £447,793 profit for the financial year ending May 31, 2006, compared to a £193,000 loss the previous year and a £137,000 profit the year before that.

The huge rise in fortunes came because a huge increase in turnover, from £2.7million to £6.3million.

This increased turnover was down to promotion to League One, the move to the Liberty Stadium plus our other successes such as reaching the play-off final, winning the Football League Trophy and the FAW Premier Cup.

With our move to the new stadium, average attendances nearly doubled from 8,453 to 14,103.

A club statement said: ‘The extra funds generated enabled the club to make another substantial investment in its playing squad which was all prudently written off against profit,’

‘The board of directors again received no remuneration for the fourth year running as it continues its policy of adopting prudent measures to improve its financial base.

‘The board wishes to recognise the excellent ongoing contribution made by the club’s staff, supporters, sponsors, local council and media alike and is confident that it is in good shape to successfully meet future challenges.’