West Ham profits Up - 31/10/2004

West Ham made a pre-tax profit of £11.8m for the year ending 31 May. The Hammers were thought to be on the brink of administration following relegation from the Premiership in 2002. Player sales brought in £24.8m while just £5.1m has been spent on replacements. Bank borrowings are down from £44.1m in 2003 to £33m this year. Having got their financial house in order, now all they have to do is to get back into the Premiership.