Wolves announce £9m profit

Wolves have announced pre-tax profits of £9.1m for the year ending 31 May 2010. The results compare to a £4.9m loss for the previous 12 months, with the turnaround in fortunes coinciding with a return to the Premier League after a six-year absence.

The turnover for the period was £60.6m, compared to £18.3m for the promotion campaign. The uplift can be attributed to television rights deals and sponsorship as well as Wolves' own commercial activity.