CHARLTON have announced an operating profit of £4.7 million and a net profit of £1.3 million.

This compares with last year's operating profit of £4.6 million and net profit of £11.1 million, which included the £10 million received from the sale of midfielder Scott Parker to Chelsea. Turnover was down £42.6 million to £40.7 million.

In his report, Charlton plc chairman Richard Murray celebrated a 12 per cent increase in match-day revenue and pinpointed the need for the club to maximise the possibilities offered by the regeneration of the South East and the Thames Gateway in particular.

He also highlighted the fact that attendances averaged 97 per cent of capacity at a time when much had been made of a nationwide trend of falling crowds.

He took the opportunity to warn fellow Premier League chairman of the dangers of a lack of competition in the top flight.