West Ham Show Profit

As reported in yesterday's Guardian West Ham have published their yearly accounts for the year ending May 2006. The Guardian claimed that this was a sign of the board's willingness to listen to takeover bids, as the accounts have to be made public before a bid can go ahead.

The accounts showed that West Ham have returned to profit with,

• A turnover of £60.1m (2004-05 - £31.8m)
• An operating profit before player trading of £13.4m (2004-05 - £1.9m operating loss)
• A pre-tax profit of £6.0m (2004-05 - £5.1m loss)
• Net assets of £39.8m (2004-05 - £35.9m)
• Net bank borrowings of £22.5m (2004-05 - £29.4m)

What the accounts don't show are share/bond holder dividends and board salaries.