Everton recorded a net loss of £9.1million last season, an increase of £3.6m from the previous year.
The deficit came as the wage bill rose by £5m to £63m with that figure accounting for 75 per cent of their turnover, according to the club’s accounts that were announced today.
Turnover dropped from £82m to £80.5m with a poor start to the 2011-12 campaign contributing to a fall in gate receipts and season ticket sales while the club were picked for fewer live TV games.
However, Everton are confident the current financial year will bring better news, with season ticket sales up 6.4 per cent and the club pushing for a top-four spot in the Premier League.
Chief executive Robert Elstone said: “The club have demonstrated our commitment to first-team success with increased expenditure on player wages.
“To get through a challenging year with only minimal increases in overall debt whilst at the same time, based on the opinions of many experts, strengthening our first-team squad is testament to the skill, hard work and commitment of everyone here.”
Everton’s net debt remains largely unchanged at £46m.
