Charlton lift Premiership financial gloom

Charlton today shook off the financial gloom elsewhere in the Premiership, announcing much-reduced losses for last season.

The club said increased Sky television revenue, £1.1million from the sale of Mark Kinsella to Aston Villa and manager Alan Curbishley keeping a lid on players' wages meant they came in with a loss of £464,000 against a £10.7m deficit for 2001-02. Turnover for the year increased 15 per cent to £35m.

Chairman Richard Murray said: "Many clubs continue to be saddled with high levels of debt and I think there are still troubled times ahead for some."

Charlton shares were unchanged at 18p today, up from their 14p low of last year but well off the 65p levels of three years ago.