Nottingham Forest report £32.1m profit

Credit: Jevanto Productions

Nottingham Forest have announced financial results for the year ending may 2017.

The football club have reported a turnover of £20.8m, up 13% from 2016 (£18.4m). This increase was noted to be a result of increased grants and royalties from the EFL alongside increases in sponsorship and in house catering income.

The annual report showed a historic loan of £40.4m was written off as part of the clubs acquisitions by Mr E Marinakis and Mr S Kominakis, which led to the club announcing a profit before tax of £32.1m.

Match attendance has also grown to 20,333 (from 19,676 in 2016), though season ticket purchases have decreased to 13,473 (from 14,079 in 2016), mirroring the clubs lower league position.