Liverpool announce record turnover & £42m pre-tax profit

 

Liverpool have announced a pre-tax profit of £42 million ($54m) in its latest annual financial accounts.

The Reds’ success on the field is being matched off it, with a record turnover of £533m ($688m) also confirmed for the year ending May 2019.

That figure was boosted by the club’s second-placed finish in the Premier League last season, as well as the lucrative new UEFA Champions League broadcast deal and a series of new commercial partnerships.

The period also saw unprecedented investment in the club’s playing squad. Liverpool spent £223m ($288m) in that regard, with Alisson Becker, Naby Keita, Fabinho and Xherdan Shaqiri all joining the club during the accounting period. The Reds also handed out long-term contracts to no fewer than 11 first-team players, including Mohamed Salah, Sadio Mane, Roberto Firmino and club captain Jordan Henderson.

They were also able to press ahead with their new £50m ($65m) training facility in Kirkby, with work on the state-of-the-art complex set to be completed in June, in time for Jurgen Klopp and his team to move in for pre-season training.

The latest accounts show that all three major revenue streams have risen sharply, with media revenue increasing by £41m to £261m ($337m), commercial revenue up by £34m to £188m ($243) and match revenue increasing by £3.5m to £84m ($108m). 

Liverpool’s wage bill also, climbed from £263m ($339m) in 2017-18 to £310m ($400m) in 2018-19. It remains at around 58% of the club’s turnover.

Crucially, though, the club has been able to increase its profits while significantly reducing the debt on its books.

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