Bournemouth celebrate bumper profit

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Bournemouth have announced a profit of £1.1million for the year ending July 31, 2011.

Although the Cherries recorded an overall operating loss of £1.2million, the south coast club generated £2.3million in player sales during the year - including transfers fees received for Brett Pitman, Josh McQuiod, Jason Pearce and Marvin Bartley.

In a statement on the club's official website, chairman Eddie Mitchell said: "I'm pleased to say that we made a profit, and I'm the first chairman at this football club to be able to say that in over a decade."

He added: "Times are hard and I don't think many other clubs in the Football League will announce profits this season.

"We sold a lot of players over the summer and that has put the club in a good position, and I hope in 12 months' time we will be in an even better position.

"I make no bones about my ambitions of getting this club into the Championship, but I also want the club to be financially secure and we've taken an important step towards making that happen."

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