MADRID: Record European football champions Real Madrid have announced net profits of €31.2 million (approximately $36.10 million) for the 2017-18 season.
The club published its accounts on its official website following a meeting of its board of directors on Thursday night, reports Xinhua news agency.
They show that without taking into account player transfers, the club had operating revenue of €750.9 million, which is 11.3% higher than in the previous year.
That led to pre-tax profits of €43 million and a net profit of €31.2 million once tax had been taken into account, leaving the club with a cash balance of €190.1 million, which is €12.1 million higher than last year.
The club also announced that it has contributed €285.4 million to tax revenues and social security and that the revenue forecasts for the current (2018-19 season) were €752.0 million prior to the sale of assets.
