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Spurs have reported pre-tax profits of £4.4m, up £1m on last year with operating profit of £4.2m. Although sales of players helped, it is significant that turnover rose 10 per cent to £36.3m. Despite their relegation from the Premiership in 2004, Championship side Wolves have also had good financial results. Wolverhampton Wanderers have announced a net profit of £2.8 million, despite a reduction of nearly £14 million in turnover for the financial year after their relegation from the Premiership in 2004.
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