West Brom set to unveil £1.5 million profit
West Bromwich Albion were today set to declare a profit of £1.5 million in their latest accounts as the club holds its AGM in London.
A handful of shareholders were set to make the early-morning trip to the capital for the AGM of WBA Group, the Baggies' holding company, at the offices of lawyers Memery Crystal near London's Chancery Lane.
And they were expected to sign off the accounts for the year ending June 2012, which showed a profit of £1.5m on a turnover of £66.7m.
The club made an operating loss of £4.6m but that was turned into a profit by the sales of Marek Cech, Borja Valero, Ishmael Miller and Scott Carson during the financial year.
Neil Reynolds, chairman of small shareholders group S4A, said: "It shows another year of outstanding performance on and off the field.
"To maintain exceptional financial performance while continuing to improve the playing staff and playing record, reflects great credit on all concerned."
The accounts to be discussed today showed that the club's income was dominated by £49.9m from media deals and sponsorship, including broadcast rights money from Sky TV and a kit deal with Adidas. Gate receipts accounted for £7.9m of turnover with £5.6m raised from commercial activities and £2.6m from merchandise sales.
Shareholders were expected to approve the accounts before putting questions to chairman Jeremy Peace and chief executive Mark Jenkins. Plans to expand The Hawthorns were believed to be among the topics included in shareholders' questions.
The meeting was again scheduled for London despite complaints that the decision led to unwanted travel expenses for West Midlands-based shareholders.