Benfica hail record €104.2m first-half profits for 2019/20

Benfica hail record €104.2m first-half profits for 2019/20
Portuguese soccer champions Benifica have revealed a net profit of €104.2 million (US$117.6 million) for the first half of the 2019/20 financial year.

The figure represents a whopping 639.8 per cent increase on the same period last season and marks the sixth consecutive year in which the Primeira Liga club have made a profit in the first six months of activity.

Revenues for the period were also up 94.3 per cent to €244.3 million (US$275.8 million) to achieve the club’s best ever financial performance over the six months ending 31st December.

Benfica’s strong financial showing was largely down to the sale of Portuguese forward João Félix to Spanish side Atletico Madrid, who paid €126 million (US$142.2 million) for the 20-year-old in July in what was one of the most expensive transfer deals ever.

The club’s operating income without player transfers amounted to €101.9 million (US$115.1 million), which still represents an 8.8 per cent increase on the same period in 2018/19.

Meanwhile, Benfica’s net debt on 31st December 2019 stood at €45.8 million (US$51.7 million), which the club say has decreased by €189.5 million since June 2016 and is the lowest it has been in recent years.

The latest figures would suggest that Benfica are well on course to surpass their revenue for the 2018/19 financial year, which saw the club bring in more than €300 million (US$338.8 million) for the first time.

Benfica, who are one point behind league leaders FC Porto in the Primeira Liga, were the highest ranked Portuguese club in this year’s Deloitte Football Money League, which placed the Lisbon-based outfit at 24th.

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