West Brom See Healthy Profit Margins

West Bromich Albion FC have announced a profit of £9million ($14m) for the financial year ending June 30, 2011, the club have confirmed.

The Baggies have also been able to reduce their net debt from £10million ($15.4m) to just £2million ($3m).

The financial success followed a successful first season back in the Barclays Premier League.

West Brom avoided instant relegation back to the Championship for only the second time after head coach Roy Hodgson revived their fortunes when replacing Roberto Di Matteo in February.

Albion’s made money back on transfer in the department of £3million.

They spent £5.2million on new signings while receiving £8.2million back from players sold.

However the latest figures have not taken into account that, since the end of the financial year, the commitment in terms of fulfilling players’ contracts has risen from £37million to £48million.

The baggies will hold their annual general meeting at the club’s new London office on February 9.