Everton have revealed a record turnover of �75.7m and a slight pre-tax profit in their latest financial results.
Revenue for the financial year ending 31 May 2008 increased by 47% compared to the previous 12-month period.
A profit of �6.8m compares to a loss of �500,000 the year before, but transfers reduced pre-tax profits to �260,000, although last year �9.4m was lost.
"We have benefited from what I'd call sensible, careful fiscal management," chairman Bill Kenwright said.
The chairman has been criticised for not providing sufficient funds for manager David Moyes but said: "It was a period which was, in pure financial terms, hugely challenging."
He insisted that money had been spent, adding: "Our determination to ensure that our first-team squad is constantly upgraded has had an effect on the club's balance sheet."
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