AFC Bournemouth have announced that they have made a healthy profit for the year ending July 31st, 2011, recording a surplus of £1.1 million.
Taking that figure in to account, the accounts record an operating loss of £1.2 million, while transfer fees from the sale of Brett Pitman, Josh McQuoid, Jason Pearce, Marvin Bartley plus the compensation for Eddie Howe and Jason Tindall brought in £2.3 million in additional revenue.
It is noted though that the revenue brought in from the sales of Anton Robinson, Danny Ings and Liam Feeney are captured in the accounts for the current period, which closes at the end of July 2012, and, presumably, will not be released for another 12 months.
Speaking on the Clubs Official Web Site, Chairman Eddie Mitchell is quoted as saying: "I'm pleased to say that we made a profit, and I'm the first chairman at this football club to be able to say that in over a decade. Times are hard and I don't think many other clubs in the Football League will announce profits this season. We sold a lot of players over the summer and that has put the club in a good position, and I hope in 12 months' time we will be in an even better position. I make no bones about my ambitions of getting this club into the Championship, but I also want the club to be financially secure and we've taken an important step towards making that happen".