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Drop in profits at Wolves

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Profits at Wolverhampton Wanderers have dropped by nearly £7m compared with last year, but the club still managed to record a pre-tax profit after player trading and net interest charges of £2.2m in the year to 31 May 2011.   The figures take into account record £7m buy Steven Fletcher and other acquisitions.

Operating costs increased to £37.9m compared with £29.8m in 2009-10 mainly due to players' wages.  Turnover was up to £64.6m compared with £60.4m in 2009-10 largely because of the new three year Premier League television deal.

Wolves chief executive Jez Moxey said the club was now focusung on its two main investment projects, the £18m Stan Cullis stand and the £6m upgrade of the Compton Park training ground.