Everton reveal post-tax loss of £4.1m despite record turnover

Everton have announced a post-tax loss of just over £4m for the 2014-15 season.

In accounts released on Wednesday, the Goodison Park club revealed their total turnover had increased from £120.5m the previous year to £125.6m.

That was despite a £3.1m reduction in broadcast revenue from £84.8m to £81.7m - in a season they finished 11th in the Barclays Premier League compared to fifth a year earlier.

Sponsorship, advertising and merchandising income rose by £2m, while participation in the Europa League also contributed to an increase in revenue from other commercial activities by £5.1m.

And gate receipts grew by £1.1m as the average league attendance at Goodison soared to 38,406, the highest recorded total since 2003-04.

But Everton also reported that total staff costs had risen by £8.2m to £77.5m, and that, incorporating the annual net interest charge of £3.8m, the results for the year showed a post-tax loss of £4.1m.

The club had a record overall profit of £28.2m in 2013-14 - a campaign during which they sold Marouane Fellaini to Manchester United for £27.5m.

Ahead of the 2014-15 season Everton splashed out a club-record £28m on striker striker Romelu Lukaku from Chelsea.Before player trading, the Merseyside outfit had an operating profit for 2014-15 of £16m - down from £23.7m.

The accounts also show their net debt had increased by £3.2m to £31.3m.

Everton chief executive Robert Elstone said: "Our financial performance, like so many Premier League clubs, was underpinned by the second year of a TV deal that beat all expectations, but also by increases in matchday and commercial revenues.

"We also continue to work hard managing and controlling our cost base and remain determined to ensure investment and spending is effective and delivers returns.

"Beyond the Premier League table, probably the most significant barometer of success is attendances and 2014-15 broke all recent records with our highest season ticket total for at least 10 years, the lowest season ticket non-renewal rate, 12 full houses and an average attendance in excess of 38,000 for the first time since 2004.

"As reported year-in, year-out, our revenues continue to be spent on sustaining a great academy, the best possible coaching, scouting, performance and medical teams and, of course, a first-team squad that can compete for a place in Europe. That strategy remains central to everything we do."

Now in their third season under manager Roberto Martinez, Everton are currently ninth in the Premier League table.