Swansea City announces £15.3m end-of-year profit

Swansea's full-year profits are up on the previous year Swansea's full-year profits for 2012/13 are up on the previous year

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Swansea City made a profit of £15.3m for the year to May 2013 - the club's second season in the Premier League.

The club said it has used the money to build a youth academy training facility near the Liberty Stadium and a training complex at Fairwood.

The figure is up on the previous year but slightly down on the record £15.9m half yearly profits announced earlier this year.

Turnover, excluding player dealings, increased by £1.9m to £67.1m.

"The board is extremely pleased with the latest results and the year in general, both on and off the pitch," said Swansea's finance director, Don Keefe.

"We have put the funds generated by these profits to good use with the completion of a new £6m Youth Academy training facility near the Liberty Stadium, plus an initial £5m on a new training complex at nearby Fairwood.

"The club has also continued to invest in the playing squad to maintain a performance standard required for participation in the Barclays Premier League."

Swansea finished ninth in the Premier League last season and won their first major trophy, the Capital One Cup, which gave them entry into this season's Europa League.

Player registration costs up to the end of May increased by £8.9m to £19.1m on the previous year.

The club have made a profit ever since joining the Premier League, and are building towards the future.

They have submitted plans to increase the capacity of the council-owned Liberty Stadium home from 20,500 to 32,000, and work is underway on the new training facility on land acquired on lease from Swansea University.

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